Simple Interest Loan

Simple Interest

Question #1

Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

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Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

What is the principle? ​

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What is the rate? ​

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What is the time? ​

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Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

Math Response

Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

Type answer here

Correct Answer: 750

Deg^°

Rad

Question #2

Maria deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 5 years?

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Maria deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 5 years?



$$I\ =\ P\cdot r\cdot t$$

= ​ (​

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Drag these tiles and drop them in the correct blank above

$300

6%

5 years

Maria deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 5 years?

Math Response

Maria deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 5 years?

Type answer here

Correct Answer: 90

Deg^°

Rad

Question #3

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Match

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Match the following

• 500

• 2

• Unknown

• 70

Principle (P)

time (t)

rate (r)

Interest (I)

• Principle (P)

• time (t)

• rate (r)

• Interest (I)

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Math Response

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Type answer here

Correct Answer: 7

Deg^°

Rad

Question #4

Felipe invested in a savings bond for 6 years and was paid simple interest at an annual rate of 3%. The total interest that he earned was $540. How much did he invest?

Math Response

Felipe invested in a savings bond for 6 years and was paid simple interest at an annual rate of 3%. The total interest that he earned was $540. How much did he invest?

Type answer here

Correct Answer: 3000

Deg^°

Rad

Question #5

Chris borrowed $8,000 from a lender that charged simple interest at an annual rate of 7%. When Chris paid off the loan, he paid $1,680 in interest. How long was the loan for, in years?

Math Response

Chris borrowed $8,000 from a lender that charged simple interest at an annual rate of 7%. When Chris paid off the loan, he paid $1,680 in interest. How long was the loan for, in years?

Type answer here

Correct Answer: 3

Deg^°

Rad

Question #6

To be able to go on a trip to South America, Ann decides to save for 4 years. She opens a savings account with $300. The account pays simple interest at an annual rate of 5%. She doesn't make any more deposits. What will the total amount in the account be (including interest)?

Math Response

To be able to go on a trip to South America, Ann decides to save for 4 years. She opens a savings account with $300. The account pays simple interest at an annual rate of 5%. She doesn't make any more deposits. What will the total amount in the account be (including interest)?

Type answer here

Correct Answer: 360

Deg^°

Rad

Question #7

Josh deposits $5,000 into an account that pays simple interest at an annual rate of . He does not make any more deposits. He makes no withdrawals until the end of years when he withdraws all the money. What will the total amount in the account be (including interest)?

Math Response

Josh deposits $5,000 into an account that pays simple interest at an annual rate of . He does not make any more deposits. He makes no withdrawals until the end of years when he withdraws all the money. What will the total amount in the account be (including interest)?

Type answer here

Correct Answer: 6200

Deg^°

Rad

The End