Simple Interest and Decimal Operations

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

In the simple interest formula, I=Prt, what does the "t" represent?

• Principle

• Interest

• Time

• Rate

Tags

CCSS.7.RP.A.3

Starting money = $350.

Interest rate = 2.5%

How much interest will you earn in 3 years?

• $7.50

• $26.25

• $87.5

• $262.50

Tags

CCSS.7.RP.A.3

Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?

• 120

• 4

• 12

• 16

Tags

CCSS.7.RP.A.3

Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back (total amount) in 2 years?

• $150

• $192

• $1350

• $1392

Tags

CCSS.7.RP.A.3

Write the percent as a decimal.

4.3%

• 4.3

• .43

• .043

• 4300

Don deposited $3500 for 5 years on 2.4% percentage rate in his savings account. How much simple interest will he earn?

• $420
• $840
• $1400
• $3920

Tags

CCSS.7.RP.A.3

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

• Principal

• Interest

• Rate

• Time

Tags

CCSS.7.RP.A.3

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

• Principal

• Interest

• Interest rate

• Time

Tags

CCSS.7.RP.A.3

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

• Principal

• Interest

• Rate

• Time

Tags

CCSS.7.RP.A.3