Simple Interest and Percent Error

Ms. Koven wants to know how many years it will take an investment of $1,500 to earn $300 in interest if the yearly interest rate is 5.5%. Identify the principal?

• 1500

• 300

• 1200

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

Ms. Koven wants to know how many years it will take an investment of $1,500 to earn $300 in interest if the yearly interest rate is 5.5%. Identify the correct equation.

• 1,500 = (300) (.055) (T)

• 300= (1500) (.55) (T)

• 300= (1500) (.055) (T)

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

Ms. Koven wants to know how many years it will take an investment of $1,500 to earn $300 in interest if the yearly interest rate is 5.5%. Solve.

• .36 years

• 18.18 years

• 3.6 years

• 36 years

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

A bank account with $800 earns simple interest at the rate of 4.5% each year. The interest is paid at the end of every month. How much interest will the account earn after 4 months? Identify the time.

• 4 years

• 4/12 years

• 3/4 years

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CCSS.7.EE.B.3

CCSS.7.NS.A.2

CCSS.7.RP.A.2

CCSS.7.RP.A.3

1. A bank account with $800 earns simple interest at the rate of 4.5% each year. The interest is paid at the end of every month. How much interest will the account earn after 4 months? Identify the correct equation.

• I= (800)(.045) (4/12)

• I= (800) (.045) (4)

• I= (800) (4.5) (4)

• I= (800) (4.5) (4/12)

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

1. A bank account with $800 earns simple interest at the rate of 4.5% each year. The interest is paid at the end of every month. How much interest will the account earn after 4 months? Solve.

• 1,200

• 12

• 144

• 14,400

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Colton took out a loan from the bank to purchase a car. If he borrowed $17,240 at a simple interest rate of 8.25%, how much total will he have paid after 5 years?

• $7,111.50

• $71,115

• $24,351.50

• $10,128.50

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Jonah earned $150.36 in interest on an account that earns 1.4% simple interest. If Jonah opened the account 12 years ago, what was the principal amount?

• $89.50

• $25.20

• $150.36

• $895

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CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

Scott took out a 72 month loan for $35,000 to purchase a new boat. If Scott paid $8,925 in simple interest, what was the interest rate?

• .35%

• 4.25%

• .0425%

• .0035%

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CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

The veterinarian weighed Oliver’s new puppy, Boaz, on a broken scale. He weighed 36 pounds. However, Boaz actually weighs 34.5 pounds. What is the percent error?

• .043%

• 4.3%

• 104.3%

• 1.04%

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CCSS.HSA.SSE.A.1