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Simple interest — Homework
Use I = P x r x t to solve each simple interest problem.
- 1.P = $600, r = 4%, t = 5 years. Find the interest.
- 2.P = $1500, r = 2%, t = 3 years. Find the total amount.
- 3.P = $400, r = 7%, t = 2 years. Find the interest.
- 4.You earn $80 in interest on a $500 principal at a 4% rate. Find t.
- 5.Explain in your own words why simple interest grows faster with a bigger rate or a longer time, using the formula.
🌲 Homeschool of the FutureSeventh Grade · Math · week 6 homework