8.1.2: Simple and Compound Interest

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

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.8.EE.C.7B

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.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

Principal = $500
Rate= 3%
Time = 4 years
Find the simple interest rate.

• $60
• $70
• $80
• $90

Tags

CCSS.7.RP.A.3

Principal = $500
Rate= 3%
Time = 4 years
Find the compound interest rate.

• $562.75
• $60
• $500
• $573.33

Tags

CCSS.7.RP.A.3

If you deposit $1000 into a savings account, and collect an compounded interest rate of 8% for 10 years, how much money will be in the account?

• $1800
• $2158.92.
• $2000
• $1956.89

Does this table represent earning simple interest or compound interest?

• Simple, because it is adding by the same amount every 5 years
• Compound, because it is increasing at an increasing rate every 5 years

Does this table represent earning simple interest or compound interest?

• Simple, because it is adding by the same amount every 5 years
• Compound, because it is increasing at an increasing rate every 5 years

When your table shows side calculations like this, are you computing simple interest or compound?

• Simple, because there is a constant adding rate of change
• Compound, because there is a repeated multiplier

Tags

CCSS.HSF-LE.A.1C

When your table shows side calculations like this, are you computing simple interest or compound?

• Simple, because there is a constant adding rate of change
• Compound, because there is a repeated multiplier

Tags

CCSS.HSF-LE.A.1B