Simple Interest

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back in TOTAL in 2 years?

• $150
• $192
• $1350
• $1392

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Tags

CCSS.7.RP.A.3

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

• $120
• $144
• $1,200
• $1,440

Tags

CCSS.7.RP.A.3

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

• 6%
• 7%
• 8%
• 9%

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

• Principle
• Interest
• Time, in months
• Time, in years

Convert 18 months to years. 

• 18 Years
• 1.5 Years
• .18 Years
• You cannot change it to years.

Write the decimal as a percent. 
0.37

• 37%
• 3.7%
• .37%
• 370%

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

Tags

CCSS.7.RP.A.3

What does the "I" in the interest formula stand for?

• Important
• Interest
• Internet
• Igloo

What does the "r" in the interest formula stand for?

• Principal
• Interest
• Rate
• Time