Simple and Compound Interest -8th

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

• Principle
• Interest
• Time, in hours
• Time, in years

Tags

CCSS.8.EE.C.7B

The compound interest formula is ______________.

• A = P(2+r)^t

• I= Prt

• A² + B² = C²

• A = P(1+r)^t

Principal = $350.
Interest rate = 2.5%
TIme = 3 years.
How much simple interest?

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

Mark went to the mall and saw a pair of shoes that he would have to take a loan out for $6500 to purchase. The bank said that he could get a simple interest rate of 8% for 5 years. What is the total amount that Mark will pay for the shoes?

• $2600

• $910

• $9100

• $260

Tags

CCSS.7.RP.A.3

Jack earned $10,000 from his hamburger company. He deposited it into an account that earned 3% interest compounded annually. How much interest did he earn after 4 years?

• $11,255.09

• $1255.09

• $1200

• $11,200

Tags

CCSS.HSF.BF.A.2

J.J. earned $475 from holding a football camp 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

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

• Principle
• Interest
• Time
• Percent Rate

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.7.RP.A.3

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

Find the simple interest to the nearest cent. $575 at 6.25% for 7 years.

• $249.55
• $2,515.63
• $251.56
• $25.15

Tags

CCSS.7.RP.A.3