Simple Interest

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

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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

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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?

• $150
• $192
• $1350
• $1392

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CCSS.7.RP.A.3

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

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CCSS.HSF.BF.A.2

Ann puts $300 in a bank account earning 4% interest.  How much will she earn in interest in 1 year?

• 4
• 8
• 12
• 16

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CCSS.6.RP.A.3C

An interest resulting from periodic addition of simple interest to the principal amount is what you called?

What is the total number of conversion periods when a certain amount is borrowed at 5.5% compounded quarterly for 4 years?

At what interest rate compounded semi-annually will 15,000 pesos accumulate to 25,000 pesos in 10 years?

What is the interest rate per conversion period if 29,500 was invested at 2.5% compounded semi-annually for 5 years and 4 months?

Jamaico made a loan of 20,450 from a bank that charges 3% simple interest. How much he pay the bank after 2 years?