Notes Over 3.5InterestInterest

Simple interest is found by multiplying the principal, the rate, and the time.

trpI Compound interest is the total amount earned each year with interest found on the interest.

trpA 1

Notes Over 3.5InterestInterestFind the simple interest earned on each given principal, rate, and time.

1. principal =$500, rate = 4%, time = 2 yrs

I 500

40 $

trpI 04. 2

Notes Over 3.5InterestInterestFind the simple interest earned on each given principal, rate, and time.

2. principal =$700, rate = 3.5%, time = 4 yrs

I 700

98$

trpI 035. 4

Notes Over 3.5InterestInterestFind the simple interest earned on each given principal, rate, and time.

3. prin. =$1500, rate = 4.25%, time = 2 yrs

I 1500

50.127$

trpI 0425. 2

Notes Over 3.5InterestInterestFind the simple interest earned on each given principal, rate, and time.

4. principal =$600, rate = 3.9%, time = 5 yrs

I 600

117$

trpI 039. 5

Notes Over 3.5InterestInterestFind the simple interest earned on each given principal, rate, and time.

5. principal =$950, rate = 5.1%, time = 2.5 yrs

I 950

13.121$

trpI 051. 5.2

Notes Over 3.5InterestInterestFind the simple interest earned on each given principal, rate, and time.

6. principal =$890, rate = 4.2%, time = 4.5 yrs

I 890

21.168$

trpI 042. 5.4

Notes Over 3.5InterestInterestFind the amount in an account for each given principal, rate, and time if the interest is compounded.

7. principal =$500, rate = 4%, time = 2 yrs

1 A

500

80.540$

trpA 104. 2

Notes Over 3.5InterestInterestFind the amount in an account for each given principal, rate, and time if the interest is compounded.

8. principal =$700, rate = 3.5%, time = 4 yrs

1 A

700

27.803$

trpA 1 035. 4

Notes Over 3.5InterestInterestFind the amount in an account for each given principal, rate, and time if the interest is compounded.

9. prin. =$1500, rate = 4.25%, time = 2 yrs

1 A

1500

21.1630$

trpA 1 0425. 2

Notes Over 3.5InterestInterestFind the amount in an account for each given principal, rate, and time if the interest is compounded.

10. principal =$600, rate = 3.9%, time = 5 yrs

1 A

600

49.726$

trpA 1 039. 5

Notes Over 3.5InterestInterestFind the amount in an account for each given principal, rate, and time if the interest is compounded.

11. principal =$950, rate = 5.1%, time = 2.5 yrs

1 A

950

80.1075$

trpA 1 051. 5.2

Notes Over 3.5InterestInterestFind the amount in an account for each given principal, rate, and time if the interest is compounded.

12. principal =$890, rate = 4.2%, time = 4.5 yrs

1 A

890

01.1071$

trpA 1 042. 5.4

Notes Over 3.5InterestInterestFind the amount in an account for each given principal, rate, and time if the interest is compounded.

13. principal =$640, rate = 6.1%, time = 1.5 yrs

1 A

640

44.699$

trpA 1 061. 5.1

Notes Over 3.5InterestInterestFind the amount in an account for each given principal, rate, and time if the interest is compounded.

14. principal =$955, rate = 3.9%, time = 3.25 yrs

1 A

559

44.1081$

trpA 1 039. 25.3

Notes Over 3.5

Extra Practice Worksheet 3.5

Pg. 3-29, Lesson 3.5 #3-10