Simple & Compund Interest (TP3)

Encik Saiful saves RM 15 000 in Bank BAC with an interest rate of 2% per annum for 3 years. Calculate the total interest that Encik Saiful will received for the 3 years.

Tags

CCSS.7.RP.A.3

Cik Raissa saves RM 3000 in Bank Mawar with an interest rate of 4% per annum. How much is the total interest that Cik Raissa will received for 6 months?

Tags

CCSS.7.RP.A.3

Cik Eryna saves RM8 000 in bank that offers an interest rate of 3.5% per annum. After a few years, she receives RM840 as the interest. Find the period of Cik Eryna's savings.

Tags

CCSS.7.RP.A.3

Cik Eryna saves RMy in a bank with an interest rate of 4.5% per annum. Encik Azim received RM414 as the interest. Calculate the total savings, RMy of Encik Azim.

Tags

CCSS.7.RP.A.3

Mrs Lim saves RM6 000 in a bank XYZ with an interest rate of 4.5% per annum. Calculate Mrs Lim's total savings after 1 year.

Tags

CCSS.7.RP.A.3

I = Prt where r represents the rate.  Rates must be converted into ____ before multiplying.

• fractions
• mixed numbers
• decimals

Tags

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 amount taxed
• the percent interest for this year
• the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

To earn as much interest as possible, you should open a savings account that earns ______ interest and has the _____ interest rate.

• compound; lowest
• simple ; lowest
• compound ; highest
• simple ; highest

Tags

CCSS.7.RP.A.3

If you are calculating the simple interest and you are given the time in months.  How can you find the time in years?

• divide 12 by the months
• multiply 12 times the months
• divide the months by 12
• change the months to a decimal

Tags

CCSS.7.RP.A.3

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