Interest

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

Change 6.75% to a decimal.

• 67.5
• .675
• 675
• .0675

Tags

CCSS.5.NBT.A.3

Find the total amount in the account to the nearest cent if the interest is compounded annually. 
$2750 at 8% for 2 years

• $2200.00
• $3207.60
• $8910.00
• $2750

Tags

CCSS.HSF-LE.A.1C

If you invest $823 at a simple interest rate of 3%, how much money will you have after nine years?

• $246.90

• $1,045.21

• $222.21

• $1,069.90

Tags

CCSS.7.RP.A.3

How long must $542 be invested at a rate of 7% to earn $303.52 in simple interest?

• 25 years

• 18 years

• 8 years

• 6 years

What was the interest rate if your balance on an investment of $857 at the end of six years is $1,268.36?

• 8%

• 25%

• 68%

• 6%

Tags

CCSS.6.EE.B.7

If you put $603 in a savings account that pays 9% simple interest for one year what is the amount of money you will have at the end of the three years?

• $657.27

• $765.81

• $162.81

• $1628.10

Maggie deposited $50 in a savings account earning 12% interest, compounded annually. How much will she have in 5 years?

• $30

• $38.12

• $80

• $88.12

Principal: $5000

Interest Rate: 3.75%

Time: 25 years

Compounded Monthly

State the future account balance.

• $12712.31

• $12,749.30

• $12,657.59

• $12550.84

Riley invested $1,000 in savings bonds. If the bonds earn 6.75% interest compounded semi-annually, how much total will Riley earn in 15 years?

• $1,584.62

• $2,651.39

• $2,706.86

• $1,825.10

Tags

CCSS.HSF-LE.A.1C