Simple Interest Independent Practice

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

Principal = $500

Interest rate =5%

Time = 5 years

What is the interest earned?

• 95

• 105

• 125

• 135

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

• $120

• $144

• $1,200

• $1,440

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

• Principle

• Interest

• Time, in hours

• Time, in years

Convert 18 months to years. 

• 18 Years
• 1.5 Years
• .18 Years
• You cannot change it to years.

Tags

CCSS.6.RP.A.3D

Write the decimal as a percent. 
0.37

• 37%
• 3.7%
• .37%

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Write the percent as a decimal.

4.3%

• 4.3

• .43

• .043

• 4300

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

I = prt

Starting money = $350.

Interest rate = 2.5%

TIme = 3 years.

How much interest?

• $7.50

• $26.25

• $87.5

• $262.50

I = prt

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

• $800

• $1,000

• $1,200

• $1,500