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Math Pre Algebra

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Find the simple interest.

$900 deposited at an interest rate of 3% for 5 years.


$1,348 deposited at an interest rate of 2.5% for 18 months.

  • Math Pre Algebra - ,

    simple interest = principal x rate x time
    for the first one:
    interest = 900(.03)(5) = 135

    do the second one the same way, use 18/12 for the time.

  • Math Pre Algebra - ,

    so the answer or the first one is 135 and im not supposed to add 900 to 135?

  • Math Pre Algebra - ,

    it just asked for the interest

    If you add the 135 to the original 900 you would have the "amount"

  • Math Pre Algebra - ,

    oh ok thank you

  • Math Pre Algebra - ,

    for the second one do i do

    1348(0.0025)(1.5)= 5

  • Math Pre Algebra - ,

    small slip-up
    2.5% = .025 not .0025 like you have

    interest = 1348(.025)(1.5) = 50.55

    (love to have a loan of %1348 where I would only pay $5 in 1 1/2 years)

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