Week 1 SIMPLE INTEREST Flashcards
1
Q
Interest (I)
A
I = Prt
2
Q
Final Amount
A
F = P+ I
3
Q
Final Amount (F)(MV)
A
F= P(1+rt)
4
Q
Principal (P)
A
P = I/rt
5
Q
Principal 2 (P)
A
P = F - I
6
Q
Time (t)
A
t = I/Pr
7
Q
RATE OF INTEREST (r)
A
r = I/Pt
8
Q
The payment for the use of
borrowed money or the amount
earned on invested money.
A
PRINCIPAL (P)
9
Q
The amount borrowed or invested
A
PRINCIPAL (P)
10
Q
A fractional part of the principal
that is paid on loan or investment.
A
RATE (r)
11
Q
The number of years for which the
money is borrowed or invested.
A
TIME (t)
12
Q
The sum of the principal and the
interest earned within the time.
A
FINAL AMOUNT/ MATURITY VALUE (F or MV)
