simple and compound  interest

simple and compound interest

8th Grade

20 Qs

quiz-placeholder

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simple and compound  interest

simple and compound interest

Assessment

Quiz

Mathematics

8th Grade

Medium

CCSS
7.RP.A.3, 7.EE.A.2, HSA.CED.A.1

+6

Standards-aligned

Created by

LaTashia Cary

Used 6+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Principal

Interest earned

Rate

Time

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years?

$480
$3,480
$4,800
$7,800

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Principal
Interest
rate
time

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Principal

Interest

years

Percent Rate

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

$120

$144

$1,200

$1,440

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Principal
Interest
rate
time

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

True of False:  Before you can calculate INTEREST your time must be in MONTHS!

FALSE
TRUE

Tags

CCSS.7.RP.A.3

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