Simple and Compound Interest

Learn simple and compound interest formulas and practice solving math problems!

Here are the two formulas that you will need:Simple Interest: I = prtCompound Interest: A = p(1 + r)tp = principler = rate (remember to turn the % into a decimal)t = time (remember time is always expressed in years)Example: 6 months = 0.5 years Simple Interest Match the questions and answers. $300 at 7.5%, for 5 years $112.50 $770 at 16% for 6 months $56 $668 at 9.25% for 3 years $185.37 $285 at 8.5% for 2½ years $60.56 $360 at 18% for 9 months $48.60 Compound Interest Match the questions and the answers. $7000 at 2% for 4 years $7577.03 $1995 at 8.5% for 10 years $4510.66 $12,000 at 4.8% for 7 years $1661.35 $5000 at 9% for 4 years $7057.91 $3800 at 19% for 5 years $9068.14