Quiz 23 Flashcards Preview

8th Math - Pre-Algebra > Quiz 23 > Flashcards

Flashcards in Quiz 23 Deck (10):
0

The simple interest formula is i = prt.

True

1

The money borrowed is the interest.

False

2

Time in the simple interest formula is based on years.

True

3

A commercial year has 380 days.

False

4

Installment buying is buying on time.

True

5

p = $1,000; r = 9 1/2%; t = 1 yr.

$95

6

p = $1,500; r = 12%; t = 2 yr.

$360

7

p = $875; r = 11%; t = 6 mo.

$48.13

8

p = $500; r = 12 3/4%; t = 45 da.

$7.97

9

p = $20,000; r = 7%; t = 2 1/2 yr.

$3,500