Computing Simple Interest
Use the formula I = Prt
where
I = Interest Earned,
P = Principal Balance,
r = rate as a decimal, ( % / 100 = decimal form of percent)
and t = time
Be sure to pay attention to if it is asking for a total balance be sure to add and if it says how much more or less you are subtracting!
where
I = Interest Earned,
P = Principal Balance,
r = rate as a decimal, ( % / 100 = decimal form of percent)
and t = time
Be sure to pay attention to if it is asking for a total balance be sure to add and if it says how much more or less you are subtracting!
Recommended age: 8 years old
Created by
Garrett, Stephanie
United States
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