Simple Interest
Authored by Jennifer Ebersole
Mathematics
9th - 12th Grade
CCSS covered
Used 16+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Marcus plans to deposit $20,000 into a savings account.
He has two options. Option 1: Bedford Bank offers a rate of 4% simple interest for five years. How much interest is earned?
$2460
$4000
$5204
$4094
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Marcus plans to deposit $20,000 into a savings account.
He has two options. Option 2: Slick Bank offers a rate of 20% simple interest for one year. How much interest is earned?
$5680
$8475
$3540
$4000
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Marcus plans to deposit $20,000 into a savings account. He has two options. Which option earns Marcus more interest?
Option 1: Bedford Bank
Option 2: Slick Bank
They earn Marcus the same amount
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
How much simple interest does $2,560 earn in 17 months at a rate of 5.125%?
$142.81
$201.24
$185.87
$98.76
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What interest rate is needed for $9,500 to earn $900 in 19 months?
5.98%
4.65%
6.04%
3.72%
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
How much principal would you have to deposit to earn $700 simple interest in 1.5 years at a rate of 4%?
$14,988.34
$11,666.67
$12,548.22
$8,562.89
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
A couple is planning a savings account for a newborn baby. They start with $3,450 received in newborn baby gifts. If no deposits or withdrawals are made, what is the balance of the account if it earns simple interest at 5% interest for 18 years?
$4,165
$7,985
$6,480
$6,555
Tags
CCSS.7.RP.A.3
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