Chapter 3-6

Samson opened a bank account with 1.25% simple interest. The total amount of interest Samson will earn after 20 years is $812.50. How much did Samson deposit when he opened the account?

• $3,250
• $325
• $32,500
• $32.50

Which equation represents the total interest, T, earned when the principal amount is $100, the annual simple interest rate is 1%, and the number of years is 10?

• T = 100 ∗ (10 + 0.1)
• T = 100 ∗ 0.1 ∗ 10
• T = 100 ∗ (10 + 0.01)
• T = 100 ∗ 0.01 ∗ 10

Mika opened a bank account that earns simple interest with an initial deposit of $2,200. She made no other transactions throughout the year. At the end of the year, Mika had $2,260.50 in her account. What was the simple interest rate?

• 2.75%
• 27.5%
• 275%
• 0.275%

Darryl deposits $1,500 into a savings account that has a simple interest rate of 2.7%. Lori deposits $1,400 into a savings account that has a simple interest rate of 3.8%. If no other transactions are made, whose account will have more money after 10 years? How much more?

• Lori, $27
• Lori, $72
• Darryl; $27
• Darryl; $72

Yuni loaned $400 to her brother. He will repay the loan by paying 2.5% simple interest for 3 years. How much will he pay in interest?

• $30
• $3
• $300
• $3000

Kelly opened a bank account that earns 1.2% simple interest each year. After 7 years, Kelly will earn $126 in interest. How much did Kelly deposit when she opened the account?

• $1500
• $150
• $15
• $1.50

Ethan put $700 into a Certificate of Deposit (CD) account that earns 1.8% interest each year. What will the interest of the CD account be after 6 years?

• $75.60
• $756.00
• $7.56
• $7560.00

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

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.EE.B.3

CCSS.7.NS.A.2

CCSS.7.NS.A.3

CCSS.7.RP.A.3

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

• $800
• $1,000
• $1,200
• $1,500

Tags

CCSS.7.RP.A.3