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

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

Tags

CCSS.7.RP.A.3

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500

Tags

CCSS.HSF.BF.A.2

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

• 95
• 105
• 125
• 135

Tags

CCSS.7.RP.A.3

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

• $120
• $144
• $1,200
• $1,440

Tags

CCSS.7.RP.A.3

Convert 18 months to years. 

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

Tags

CCSS.4.MD.A.1

The Principal and Interest are always___________.

• fraction
• decimal
• percent
• money

Find the ending balance:
$35,600 at 9% for 2 years

• $42,296.39
• $42,002.27
• $42,008.00
• $38,804.00

Tags

CCSS.7.RP.A.3

Find the ending balance:
$1,400 at 4% for 60 months

• $1,456
• $1,680
• $280
• $1,703.31

Tags

CCSS.7.RP.A.3

Find time time (in years):
Principal: $3,750
Interest: $427.50
Interest Rate: 3.8%

• 3 years
• 2.3 years
• 0.3 years
• 30 years

Tags

CCSS.6.EE.B.7