Simple Interest 7.4.10

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

• fraction
• decimal
• ratio
• dollar amount

Tags

CCSS.7.RP.A.3

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

• the amount of money borrowed or deposited
• the percent interest for his year
• the amount taxed
• the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time, in hours
• Time, in years

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CCSS.7.RP.A.3

What does the "I" in the interest formula stand for?

• It

• Interest

• the Headless Iron Man

• Ignoramus

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CCSS.7.RP.A.3

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

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CCSS.7.RP.A.3

Convert 18 months to years. 

• 18 Years
• 1.5 Years
• .18 Years
• You cannot change it to years.

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CCSS.6.RP.A.3D

The Principal and Interest are always___________.

• fraction
• decimal
• percent
• money

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CCSS.7.RP.A.2

CCSS.7.RP.A.3

What is the simple interest formula?

• I=rt
• I=prt
• I=bh
• I=Bh

Tags

CCSS.7.RP.A.3

How do you calculate the balance in an account, with interest?

• Subtract the interest from the principle amount
• Multiply the principle, rate and time
• Add the interest to the principle amount
• Add the principle amount and the time

Tags

CCSS.7.RP.A.3