Simple interest and compound interest

What is the formula for simple interest?

• A=P(1+r)^t
• I=Prt
• I=P(1+r)t
• A=Prt

Tags

CCSS.8.EE.C.7B

In the compound interest formula A=P(1+r)^t what does the A stand for?

• The amount of interest

• The total amount balance

• The interest rate

• The time

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

• 4

• 8

• 12

• 16

Find the simple interest:
Principal: $6,000
Interest Rate: 5%
Time: 6 months

• $150
• $1,800
• $1,500
• $15,000

Tags

CCSS.7.EE.B.3

CCSS.7.RP.A.2

CCSS.7.RP.A.3

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05
• $3,285.05
• $2,385
• $32,285

Tags

CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. What will the total value of Jerry's account be after 5 years?

• $520,000

• $120,000

• $5,200

• $1,200

Alexton the Skeleton borrowed $4,000 for 5 years at 6% simple interest rate to pay for his band equipment. How much interest is that?

• $800

• $1,000

• $1,200

• $1,500

Tags

CCSS.7.RP.A.3