When given a rate, you must convert it to a ___________ before using it in the formula.

What does the word principle mean in the interest formula?

What is the percentage 7.4% written as a decimal?

What is the interest if you borrow $350 at a rate of 4.9% for 2 years?

Calculate the BALANCE if the principle is $250, the rate is 8% and the time is 1 year.

How much interest is earned for $1,900 at 6.2% for 5 years?

Write 49.3% as a decimal.

What does the I stand for in the interest formula?

Rainbow Brite borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

Mr. Potato Head has $410,000 in a retirement account that earns 3.85% simple interest each year. Determine the amount earned each year by this investment.

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