Simple Interest- math 7

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.2

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

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

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

Calculate the interest earned after two years if you have $1,000 in your account and the interest rate at the bank is 6%.

• $100

• $120

• $180

• 1200

Calculate the interest using I = prt or the triangle.

Principal = $10000,

Rate = 7%,

Time = 20 years

• $ 1400

• $ 1000

• $ 14000

• $ 14

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

• $2600

• $910

• $9100

• $260

You lend $240 to your friend.  He pays you back $270.  What interest rate did you charge your friend?

• 88%
• 20%
• 12.5%
• 10%

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.A.1

CCSS.HSA.REI.A.2

CCSS.HSA.REI.B.3