Consumer Math

A simple interest rate is given as a percent (%). Before using it in the simple interest formula, you must first convert that percent into a ______.

• fraction

• decimal

• ratio

• dollar amount

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

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CCSS.7.RP.A.3

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

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CCSS.7.RP.A.3

CCSS.7.NS.A.3

Write the decimal as a percent. 
0.37

• 37%
• 3.7%
• .37%

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CCSS.7.RP.A.3

CCSS.7.RP.A.2

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

• Important
• Interest
• Internet
• Igloo

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CCSS.HSF.BF.A.2

Calculate the simple interest on the following:

Principal = $350.

Interest rate = 2.5%

TIme = 3 years.

• $7.50

• $26.25

• $87.5

• $262.50

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

• $100

• $120

• $180

• 1200

Tags

CCSS.7.RP.A.3

Calculate the interest.  I = PRT,
Principal = $10000,
Rate = 7%,
Time = 20 years

• 1400
• 1000
• 14000
• 14

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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

Find the total cost of a TV that costs $990 at 9% sales tax.

• $ 89.10

• $ 900.90

• $ 1,079.10

• Free