Simple and Compound Interest Quiz 2

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

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

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

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

• fraction

• decimal

• ratio

• dollar amount

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

Write the percent as a decimal. 
4.3%

• 4.3

• .43

• .043

• 4300

Tags

CCSS.7.NS.A.3

CCSS.7.RP.A.3

Write the decimal as a percent. 
0.37

• 37%

• 3.7%

• .37%

Tags

CCSS.7.RP.A.2

CCSS.7.RP.A.3

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

• Important

• Interest

• Internet

• Igloo

Tags

CCSS.HSF.BF.A.2

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

• Principle

• Interest

• Time

• Percent Rate

Tags

CCSS.HSA.SSE.A.1

If the time is given in months, you must first _____________ by 12.

• add

• subtract

• multiply

• divide

Tags

CCSS.7.NS.A.2

CCSS.7.NS.A.3