Math 8: Simple Interest Problem Solving – MATH

Solve problems to calculate simple interest using the formula I = Prt. Created in cooperation with Mathy Cathy!

Which choice best represents the variables in the simple interest formula, I = P • r • t ?

INTEREST = PRINCIPAL • RAT • TIME INTEREST = PRINCIPAL • RATE • TIP INTEREST = PRINCIPAL • RATE • TIME INTEREST = PRINCIPAL • RATIO • TIME
Which variable in the simple interest formula represents the fee charged for borrowing money?

I P r t
How much interest will you earn on your investment at the end of 2 years?

$59.20 $5.92 $190.92 $2.96
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