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    Interest: Interest (I) - The Amount Earned For The Use of Money. I PXRXT

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    Neil Constantino Martinez
    This document defines interest, principal, time, and interest rate for simple interest calculations. It provides examples of calculating interest earned on a savings account, determining the interest rate paid back on a loan, and calculating the number of years for a loan based on the principal, interest paid, and annual interest rate.

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    Interest: Interest (I) - The Amount Earned For The Use of Money. I PXRXT

    Uploaded by

    Neil Constantino Martinez
    31 views8 pages
    This document defines interest, principal, time, and interest rate for simple interest calculations. It provides examples of calculating interest earned on a savings account, determining the interest rate paid back on a loan, and calculating the number of years for a loan based on the principal, interest paid, and annual interest rate.

    Original Description:

    interest rate time

    Original Title

    Irt

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    This document defines interest, principal, time, and interest rate for simple interest calculations. It provides examples of calculating interest earned on a savings account, determining the interest rate paid back on a loan, and calculating the number of years for a loan based on the principal, interest paid, and annual interest rate.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    31 views8 pages

    Interest: Interest (I) - The Amount Earned For The Use of Money. I PXRXT

    Uploaded by

    Neil Constantino Martinez
    This document defines interest, principal, time, and interest rate for simple interest calculations. It provides examples of calculating interest earned on a savings account, determining the interest rate paid back on a loan, and calculating the number of years for a loan based on the principal, interest paid, and annual interest rate.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 8

    INTEREST

    Interest (I) the


    amount earned for the
    use of money.
    I=PxRxT

    I= Interest, P=Principal
    R= Rate, T= Time
    2. Principal- the
    amount of money
    borrowed.

    P = I (R x T)
    3. Time = the percent
    of interest usually

    measured in years
    (annual)
    T = I (P x R)
    4. Interest Rate (R)
    the percent of interest

    R = I (P x T)

    A. Ms. Tan has a deposit of


    P5,000 in a savings account for

    2 years.
    If the bank pays
    simple interest at the rate of
    6%, how much interest will she
    receive?

    Three
    Ruby
    a.

    years ago,
    borrowed

    P12,000.
    If she paid
    back 15,200, what was
    the rate of simple
    interest?

    b. Laura applied for a loan


    of
    P8,000 at a yearly interest
    of 10%. If she paid back
    the credit Union P9,600,
    how many years was her
    loan?

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