Simple and Compound 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

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

Julie borrowed $3,500 for 3 years at 7½% simple interest rate. 
How much interest is that?

• Julie borrowed $3,500 for 3 years at 7½% simple interest rate. 
  How much interest is that?
• $787.50
• $810
• $812.50

Tags

CCSS.7.RP.A.3

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

• Principle

• Interest

• Time

• Percent Rate

Tags

CCSS.8.EE.C.7B

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

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

• Important

• Interest

• Internet

• Igloo

the time has to be in _____________

• years

• months

• days

• seconds

Tags

CCSS.7.EE.A.2

CCSS.HSA.SSE.A.2

Find the simple interest earned and the total amount in each case. The principal - $300.00, Rate - 5%, Time - 2 Years.

What is the Interest Earned and what is the Total Amount Earned?

• Interest $30.00 Total Amount $330.00

• Interest $31.00 Total Amount $331.00

• Interest $300.00 Total Amount $600.00

• Interest $3.00 Total Amount $303.00

Tags

CCSS.7.RP.A.3

Find the simple interest earned and the total amount in each case. Principal - $658.00, Rate - 10%, Time - 1 Years.

What is the Interest Earned and what is the Total Amount Earned?

• Interest Earned $65.80 Total Amount Earned $723.80

• Interest Earned $65.00 Total Amount Earned $700.80

• Interest Earned $60.00 Total Amount Earned $718.00

• Interest Earned $65.50 Total Amount Earned $823.80

Tags

CCSS.7.RP.A.3

Find the simple interest earned and the total amount in each case. Principal - $128.00, Rate - 6%, Time - 10 Years.

What is the Interest Earned and what is the Total Amount Earned?

• Interest Earned $70.00 Total Amount Earned $198.00

• Interest Earned $7.00 Total Amount Earned $135.00

• Interest Earned $76.80 Total Amount Earned $204.80

• Interest Earned $700.00 Total Amount Earned $828.00

Tags

CCSS.7.RP.A.3