Simple Interest

Simple Interest

Assessment

Flashcard

Mathematics

7th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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25 questions

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1.

FLASHCARD QUESTION

Front

Larry invests $100 in a savings plan. The plan pays 4.5% interest each year on his $100 account balance. How much money will Larry earn in interest after 3 years?

Back

13.50

2.

FLASHCARD QUESTION

Front

Larry invests $100 in a savings plan. The plan pays 4.5% interest each year on his $100 account balance. After 5 years?

Back

22.50

3.

FLASHCARD QUESTION

Front

Find the balance of a savings account at the end of 10 years if the interest earned each year is 7.5%. The principal is $500.

Back

875

4.

FLASHCARD QUESTION

Front

A $1,000 savings bond earns simple interest at the rate of 3% each year. The interest is paid at the end of every month. How much interest will the bond have earned after 3 months?

Back

7.50

5.

FLASHCARD QUESTION

Front

How long will it take for an investment of $450 to earn $200 in interest at a yearly interest rate of 6.5%?

Back

6.8 years

6.

FLASHCARD QUESTION

Front

Equation to find simple interest, 𝐴, on $600 after 1.5 years at 2% semiannual rate.

Back

A = 600 * 0.02 * 3

7.

FLASHCARD QUESTION

Front

A $1,500 loan has an annual interest rate of 4.25% on the amount borrowed. How much time has elapsed if the interest is now $127.50?

Back

2

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