Simple Interest Quizizz 2

The extra money you have to pay when you take out a loan is called

• Interest

• Principal

• Rate

• Time

The equation for maturity value is

• MV = T + I

• MV = P + T

• MV = P + PRT

• MV = P * I

Find the interest on a loan of $4,325 that was given for 3 years at an interest rate of 5.25%.

• $6,811.88

• $68,118.75

• $68.12

• $681.19

How many years is 67 days?

• 5.58

• .18

• .29

• 2.56

How many years is 2 months?

• .17

• .005

• 2

How many years is 743 days?

• 1.89

• 2.04

• 61.92

• 1.43

A loan is taken out for $15,600 dollars for 31 months at an interest rate of 4.25%. Which equation below would I use to find the simple interest on this loan.

• I = $15,600 * 31 * .0425

• I = $15,600 * 2.58 * .425

• I = $15,600 * 31 * 4.25

• I = $15,600 * 2.58 * .0425

Find the maturity value of a $3,000 loan for 2.5 years with a simple interest rate of 3.25%.

• $243.75

• $2,437.50

• $3,243.75

• sign me up for flex

A loan is taken out on February 3rd and due on August 6th. Find the exact time of the loan.

• 147

• 184

• 252

• Don't matter cuz I am broke

A loan is taken out on March 5th and due 152 days later. Find the due date.

• November 13th

• September 4th

• July 2nd

• August 4th