10.B.5 Simple Interest

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years?

• $480

• $3,480

• $4,800

• $7,800

Tags

CCSS.7.RP.A.3

Calculate the interest earned on a $4,500 savings account that earns 2.5% simple interest over three years.

• $338.00

• $33.80

• $33.75

• $337.50

Tags

CCSS.7.RP.A.3

Determine the simple interest earned:  p= $2000  r= 4.6%  t= 4 years

• $2370.00

• $348.00

• $2368.00

• $368.00

Tags

CCSS.7.RP.A.3

Christian opened a savings account with $3250. His account will earn 5.2% simple interest. How much money will be in his account after 6 years?

• $4,264.00

• $1,104.00

• $1,100.00

• $4,400.00

Tags

CCSS.7.RP.A.3

What is the ending balance of an account with $42,000 and earns simple interest at a rate of 3% for 5 years?

• $6,300.00

• $46,300.00

• $48,300.00

• $6,342.00

Tags

CCSS.7.RP.A.3

Sofia deposited $1,700 into a savings account that accumulates 1.8% interest. If she keeps the money in the account for 7 years, how much money will be in the account?

• $214.20

• $1,914.20

• $21,420.00

• $23,120.00

Tags

CCSS.7.RP.A.3

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.

• $33.50

• $40,000

• $50

• $400

Tags

CCSS.7.RP.A.3

The Principal and Interest are always___________.

• fraction

• decimal

• percent

• dollar amount

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

Tags

CCSS.7.RP.A.3