Simple & Compound Interest

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

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.HSA.SSE.A.1

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

• $150
• $192
• $1350
• $1392

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

• $827.52
• $831.10
• $839.45
• $846.80

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?

• $1,584.62
• $2,651.39
• $2,706.86
• $1,825.10

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.2

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.

• compound; lowest
• compound; highest
• simple; lowest
• simple; highest

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

Tags

CCSS.5.NBT.A.3

Write the percent as a decimal. 
43%

• 4.3
• .43
• .043
• 4300

Using the percent proportion or equation, solve. 
17 is what percent of 68?

• 25
• 25%
• 400
• 400%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

Davy Crockett earned $10,000 from his raccoon skin hat company.  He deposited it into an account that earned 3% interest annually.  How much interest did he earn after 4 years?

• $11,255.09
• $1255.09
• $1200
• $11,200

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSN.Q.A.1

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• 7.50
• 26.25
• 87.5
• 262.50

Tags

CCSS.HSA.CED.A.4