Simple interest
Flashcard
•
Mathematics
•
7th Grade
•
Practice Problem
•
Hard
+1
Standards-aligned
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15 questions
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1.
FLASHCARD QUESTION
Front
What is simple interest?
Back
Simple interest is a method of calculating the interest charged or earned on a principal amount over a specific period of time, typically expressed as a percentage.
Tags
CCSS.7.RP.A.3
2.
FLASHCARD QUESTION
Front
What is the formula for calculating simple interest?
Back
The formula for simple interest is I = P * r * t, where I is the interest, P is the principal amount, r is the rate of interest (as a decimal), and t is the time in years.
Tags
CCSS.7.RP.A.3
3.
FLASHCARD QUESTION
Front
If you deposit $500 at a 4% interest rate for 3 years, how much interest will you earn?
Back
$60
Tags
CCSS.7.RP.A.3
4.
FLASHCARD QUESTION
Front
What does P stand for in the simple interest formula?
Back
P stands for the principal amount, which is the initial sum of money deposited or borrowed.
5.
FLASHCARD QUESTION
Front
If Lisa earned $20 in interest after 1 year at a 5% interest rate, how much did she deposit?
Back
$400
Tags
CCSS.7.RP.A.3
6.
FLASHCARD QUESTION
Front
What does I stand for in the simple interest equation?
Back
I stands for Interest ($), which is the amount earned or paid for the use of money.
7.
FLASHCARD QUESTION
Front
If Amy deposits $200 for 5 years at a 5% interest rate, how much interest does she earn?
Back
$50
Tags
CCSS.HSF.BF.A.2
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