simple and compund interest

If you are calculating the simple interest and you are given the time in months. How can you find the time in years?

• divide 12 by the months

• divide the months by 12

• multiply 12 times the months

• change the months to a decimal

Tags

CCSS.7.RP.A.3

Write the percent as a decimal.

4.3%

• 4.3

• .43

• .043

• 4300

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.8.EE.C.7B

If $1,000 is invested at 16% interest, compounded annually, for five years, what is the ending balance?

• $1,225,54

• $2,100.34

• $22,255.40

• $225.54

Tags

CCSS.HSF-LE.A.1C