Simple Interest

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time, in hours
• Time, in years

Tags

CCSS.7.RP.A.3

Principal = $350.
Interest rate = 2.5%
TIme = 3 years.
How much simple interest?

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase.  The bank said that she could get a simple interest rate of 8% for 5 years.  What is the total amount that Beyonce will pay for the chair?

• $2600
• $910
• $9100
• $260

If you are calculating the simple interest and you are given the time in months, how can you find the time in years?

• Add 12 to the months
• divide the months by 12
• multiply 12 times the months
• You cannot change it to months.

Tags

CCSS.7.RP.A.3

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

Write the decimal as a percent. Round to the nearest tenth if necessary. 
0.37

• 37%
• 3.7%
• .37%

Write the percent as a decimal. 
43%

• 4.3
• .43
• .043
• 4300

Write the percent as a decimal. 
115%

• 11.5
• 1.15
• .115
• 11,500

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500

Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.

• 14
• 140
• 168
• 16.80