Simple Interest Quiz

The Junior Class at West Side High School starts a charity collection on Monday, with $78 donated by the Parents Organization. They plan to add $2 to the fund each day. How much will they have after 90 days?

• $258

• $168

• $312

Tags

CCSS.3.OA.D.8

Arrange the following interest rates from largest to smallest:
3.04%, 3.019%, 3.4%

• 3.04, 3.019, 3.4

• 3.019, 3.04, 3.4

• 3.4, 3.04, 3.019

• 3.019, 3.4, 3.04

Tags

CCSS.7.RP.A.3

Mike has a savings account at a bank that charges a $10 fee for every month his balance falls below $1,000. His account has a balance of $1,203.44 and he withdraws $300. What will his balance be in 6 months if he makes no deposits or withdrawels?

• $843.44

• $903.44

• $893.44

Tags

CCSS.7.EE.B.3

John, Paul, and George are having a disagreement over interest rates. John says that 6 3/4% can be expressed as 6.75%. George thinks that 6 3/4% can be expressed as 0.0675. Paul remembers converting percents to equivalent decimals and thinks it can be expressed as 0.0675%. Two of them are correct, one of them is incorrect. Which person is incorrect?

• John

• Paul

• George

Tags

CCSS.7.RP.A.3

Find the simple interest on a $2,350 principal deposited for 6 years at a rate of 2.77%?

• $390.57

• $2,740.57

• $3905.70

Tags

CCSS.7.RP.A.3

Ryan deposits $775 in an account that pays 1.24% simple interest for 4 years. What is Ryan's balance after 4 years?

• $1,159.40

• $384.40

• $813.44

• $38.44

Tags

CCSS.7.RP.A.3

You purchase a car for $20,000 and finance the payments over a 4 year term with an interest rate of 5.3%. How much will you pay in interest after 4 years?

• $4,240

• $42,400

• $424

Tags

CCSS.7.RP.A.3

You take out a loan at the bank for $4,000 and sign a contract to pay it back over 18 months with an interest rate of 6.4%. What will be the total amount with interest that you have to pay the bank?

• $4,384

• $3,840

• $384

Tags

CCSS.7.RP.A.3

How much simple interest does $2,560 earn in 15 months at a rate of 1 3/4%? Round to the nearest cent.

• $5.60

• $56

• $672

Tags

CCSS.7.RP.A.3

A couple is opening a savings account for a newborn baby. They start with $3,450 received in baby gifts. If no deposits or withdrawals are made, what is the balance of the account if it earns simple interest at 5% for 18 years?

• $3,105

• $6,555

Tags

CCSS.7.RP.A.3