Simple Interest

What does the I in I = PRT mean?

• invest

• interest

• ice cream

• internal

Tags

CCSS.7.RP.A.3

What is the interest earned on a savings account over 2 years, given a principal of $200 and a rate of 5%?

• $5

• $25

• $20

• $2

Tags

CCSS.7.RP.A.3

What does the R in I =PRT mean?

• rate

• real number

• recommend

• rounding

Tags

CCSS.7.RP.A.3

What does the P in I =PRT mean?

• Power

• Principal

• Product

• Percent

Tags

CCSS.7.RP.A.3

What is the simple interest on a housing loan of $350,000, over 30 years with a rate of 4.5%?

• $350,00

• $47,250

• $350,000

• $472,500

Tags

CCSS.7.RP.A.3

What does the T in I =PRT means?

• time

• kind of loan

• temperature

• multiplication

Tags

CCSS.7.RP.A.3

What would be the total amount of your student loan, if you had to pay back a loan of $10,550, at a rate of 3% over the course of 10 years ?

• $13,715

• $3165

• $31,650

• $10,550

Tags

CCSS.7.RP.A.3

What is the interest on a savings account at a rate of 2%, given a starting amount of $575, over 1 year's time?

• $115

• $586.50

• $11.50

• $1.50

Tags

CCSS.7.RP.A.3

You take out a car loan. How much will you pay in total for the car, if your loan is for $8000, at a rate of 5% interest, over 3 years?

• $1,200

• $120

• $920

• $9,200

Tags

CCSS.7.RP.A.3