Simple and Compound Interest Practice

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

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

• the amount of money borrowed or deposited
• the percent interest for his year
• the amount taxed
• the amount the bank owes you for being a customer at their bank

Tags

CCSS.8.EE.C.7B

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.7.RP.A.3

What formula will you use?

• I=Prt
• A=P(1+r)^t

Tags

CCSS.HSA.SSE.B.4

What is the principal?

• $1,200
• 15 months
• 3%

Tags

CCSS.7.RP.A.3

What is the interest rate?

• $1,200
• .03
• 15 months
• 3

Tags

CCSS.7.RP.A.3

What is the time in years?

• 15 months
• 1.25 years
• 1 year
• .8 years

Tags

CCSS.7.RP.A.3

What is the interest earned?

• $45
• $1,245
• $1,245.17
• 45.17

Tags

CCSS.7.RP.A.3

What is the total balance?

• $45
• $1,245
• $1,245.17
• 45.17

Tags

CCSS.7.RP.A.3

What formula will you use?

• I=Prt
• A=P(1+r)^t

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.B.5