Simple and Compound Interest

Simple and Compound Interest

7th - 8th Grade

15 Qs

quiz-placeholder

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Simple and Compound Interest

Simple and Compound Interest

Assessment

Quiz

Mathematics

7th - 8th Grade

Hard

CCSS
7.RP.A.3, HSA.CED.A.1, 8.EE.C.7B

+11

Standards-aligned

Created by

Marcus Washington

Used 3+ times

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15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

When calculating

interest, how do you write the percent?

a fraction

a decimal

a round number

not enough information

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

David

invests $10,000 in a savings account that pays 3.5% simple interest. If David

makes no withdrawals or deposits to the account, how much will be in the

account after 7 years.

$2,450

$11,750

$12,450

Not here

Tags

CCSS.HSF.BF.A.2

3.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

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

Principle

Interest

Time

Percent Rate

Tags

CCSS.8.EE.C.7B

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.

14
140
168
16.80

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

the time has to be in _____________

years

months

days

seconds

Tags

CCSS.7.EE.A.2

CCSS.HSA.SSE.A.2

7.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Joe went to the store to buy a car, he needed to buy a car to get to work, the car cost 19,000$. Joe needs to Borrow 19,000$ in order to get a car, to get to work. He gets a loan at 3% interest rate for 5 years with simple interest, what is the Principle?

2,850$

21,850$

19,000$

38,000$

Tags

CCSS.7.RP.A.3

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