Finding Simple Interest

The simple interest formula is given by I=Prt. What does t stand for? Check all that apply.

• term

• time

• target

• tax

Aeign borrowed $4,000 for 5 years at 6% simple interest for his property. How much is the interest for the amount borrowed?

• $800

• $1200

• $1000

• $1500

Carol borrows $1,200 from a bank with 8% simple interest per year. What is the total balance she have to pay in 2 years?

• $150

• $192

• $1350

• $1392

Jen puts $300 in a bank account earning 4% simple interest. How much will her money earn in 1 year?

• 4

• 6

• 12

• 16

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

Principal = $800

Interest Rate = 3.5%

Time = 0.5 years

Find the interest earned.

• 14

• 140

• 168

• 16.80

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years?

• $480
• $3,480
• $4,800
• $7,800

Tags

CCSS.7.RP.A.3

I= $1,125 P=$2,500 r= 5%. Find the (t) time.

• 5 years

• 8 years

• 10 years

• 9 years