Simple and Compound Interest

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

Julie borrowed $3,500 for 3 years at 7½% simple interest rate. 
How much interest is that?

• Julie borrowed $3,500 for 3 years at 7½% simple interest rate. 
  How much interest is that?
• $787.50
• $810
• $812.50

Tags

CCSS.7.RP.A.3

Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year? (simple interest)

• 4

• 8

• 12

• 16

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.RP.A.3

Starting money = $350.

Interest rate = 2.5%

TIme = 3 years.

How much simple interest?

• 7.50

• 26.25

• 87.5

• 262.50

Sam borrowed $4,500 for 2 years and had to pay $630 simple interest at the end of that time. What rate of interest did he pay?

• 6%
• 7%
• 8%
• 9%

Tags

CCSS.7.RP.A.3

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

• Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?
• $144
• $1,200
• $1,440

Tags

CCSS.7.RP.A.3

Ann puts $300 in a bank account earning 4% interest.  How much will she earn in interest in 1 year?

• 4
• 8
• 12
• 16

Tags

CCSS.6.RP.A.3C

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.7.RP.A.3

CCSS.7.NS.A.2