Simple interest

Amy deposits $200 in the bank for 5 years. She earns 5% interest. How much did she make in interest?

• $10

• $60

• $50

• $500

Tags

CCSS.7.RP.A.3

Howard borrowed $4,000 from the bank at an interest rate of 8%. He has to pay it back in 2 years. How much interest will he pay?

• $640

• $64

• $74

• $460

Tags

CCSS.7.RP.A.3

What is the formula for simple interest?

• I = K*Y*X

• I = I*P

• I = P*r*t

• P = x*y

Tags

CCSS.7.RP.A.3

What does the I stand for in the simple interest equation?

• Income

• Igloo

• Ice

• Interest ($)

Tags

CCSS.7.RP.A.3

What does the P stand for in the simple interest equation?

• People

• Principal

• Percent

• Pension

Tags

CCSS.7.RP.A.3

What does the r stand for in the simple interest equation?

• Roses (petals)

• Random (decimals)

• River (gallons)

• Rate (% as decimal)

Tags

CCSS.7.RP.A.3

What does the t stand for in the simple interest equation?

• Time

• Tents

• Totals

• Teeth

Tags

CCSS.7.RP.A.3

Danny earned $100 in interest on $800 that he deposited in the bank for 5 years. What was the interest rate?

• 0.025%

• 2.5%

• .25%

• 25%

Tags

CCSS.7.RP.A.3

Lisa earned $20 in interest after leaving her money in the bank for 1 year at a 5% interest rate. How much did Lisa deposit?

• $200

• $300

• $500

• $400

Tags

CCSS.7.RP.A.3