Simple Interest 3

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Tags

CCSS.7.RP.A.3

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

• 6%
• 6%
• 8%
• 9%

Tags

CCSS.7.RP.A.3

What does the "r" in the interest formula stand for?

• Principal
• Interest
• rate
• time

Tags

CCSS.8.EE.C.7B

Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.

• 14
• 140
• 168
• 16.80

Tags

CCSS.7.RP.A.3

Principal = $1500
Interest earned = $60 per year
Find the interest rate.

• 40%
• 4%
• 0.4%
• 8%

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.8.EE.C.7B

A bank offers an annual simple interest rate of 8% on home improvements loans.  How much would Megan owe if she borrowed $17,000 over a period of 2 years?

• $19,720
• $1360
• $2720
• $38,000

Lloyd deposited $1,200 in a certificate of deposit (CD) at a yearly interest rate of 5.5%. He earned $198 in simple interest. How long was the CD for?

• 2 years

• 3 years

• 5 years

• 1 year