Simple Interest Practice

What is the formula for Simple Interest?

• $I=p\times r\times t$

• $P=I\times r\times t$

• $I=p\times r$

• $change\div original$

Tags

CCSS.7.RP.A.3

Reyna inherits $50,000. She puts that money in a bank account that earns 8.5% interest, and doesn't touch the account for 42 months. How munch interest will Reyna earn?

(a)  

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CCSS.7.RP.A.3

How much interest is earned over 15 years on an investment of $7,000 with an annual interest rate of 9.25%?

(a)  

Tags

CCSS.7.RP.A.3

Magnus put $270 into a bank account that earns 12% interest annually. If he doesn't add/remove money from the account for 10 years, what will his new balance be?

(a)  

Tags

CCSS.7.RP.A.3

Samirah takes out a loan of $27,000 for college. She has to pay the loan off in the next 9 years at an interest rate of 6.25%. How much money will Samirah spend to pay off the loan completely?

(a)  

Tags

CCSS.7.RP.A.3

I invest $42,000 at an interest rate of 5%. If I earn $12,600 in interest, how long did my investment last? (no labels)

(a)  

Tags

CCSS.7.RP.A.3

I spent $5,200 in interest on a loan. If I paid my loan off over 5 years at a rate of 8%, what was the initial amount of money I borrowed?

• $18,200

• $5,200

• $13,000

• $1,040

Tags

CCSS.7.RP.A.3

Clint earned $1,155 in interest from his simple interest account over the last 5 years. The account pays 1.25% interest annually. How much did Clint originally deposit in his account?

• $72.19

• $18,480.00

• $4,620.00

• $1,848.00

Tags

CCSS.7.RP.A.3

A couple took out a $5,000 loan from the bank. The loan had a simple interest rate of 7.5% per year. By the end of the loan, the couple had paid $2,250 in interest. What was the length of the couple’s loan? (no label)

(a)  

Tags

CCSS.7.RP.A.3

Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

(a)  

Tags

CCSS.7.RP.A.3