715 Simple interest Quick Check

715 Simple interest Quick Check

Assessment

Flashcard

Mathematics

7th - 11th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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15 questions

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1.

FLASHCARD QUESTION

Front

What must you convert the rate (given as a percent) to before using it in the simple interest formula?

Back

decimal

2.

FLASHCARD QUESTION

Front

If Emilio borrows $1200 at 8% simple interest per year, how much will he pay back in total after 2 years?

Back

$1392

3.

FLASHCARD QUESTION

Front

In the simple interest formula I=Prt, what does 't' represent?

Back

Time, in years

4.

FLASHCARD QUESTION

Front

What are Principal and Interest always considered?

Back

money

5.

FLASHCARD QUESTION

Front

In the formula I=Prt, what does 'P' stand for?

Back

the amount of money borrowed or deposited

6.

FLASHCARD QUESTION

Front

What is the formula for calculating simple interest?

Back

I = Prt

7.

FLASHCARD QUESTION

Front

If the principal is $1000 and the interest rate is 5% per year, what is the simple interest for 3 years?

Back

$150

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