Wk 34: Simple Interest

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

The simple interest formula is I=Prt. The P represents the principal. The principal is ___________________.

• the amount of money

• the percent interest for his year

• the rate

• the percent proportion

Tags

CCSS.7.RP.A.3

43.5% of this skeleton's body is his the mermaid tail. Write that percent as a decimal.

• 4.35

• .435

• .0435

• 4300

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

• It

• Interest

• the Headless Iron Man

• Ignoramus

Tags

CCSS.7.RP.A.3

This mysterious hand went to the mall and saw a massage chair that he would have to take a loan out to purchase. The total of the loan was $6600. The bank said that he could get a simple interest rate of 8% for 5 years. What is the total amount that the mysterious hand will pay for the chair?

• $2600

• $924

• $9240

• $260

Tags

CCSS.7.RP.A.3

Alexton the Skeleton borrowed $4,000 for 5 years at 6% simple interest rate to pay for his band equipment. How much interest is that?

• $800

• $1,000

• $1,200

• $1,500

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 in 2 years?

• $150

• $192

• $1350

• $1392

Tags

CCSS.7.RP.A.3

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. What will the value of Jerry's account be after 5 years?

• $520,000

• $120,000

• $5,200

• $1,200

Tags

CCSS.7.RP.A.3

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

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

• $100

• $120

• $180

• 1200

Tags

CCSS.7.RP.A.3