Unit 7 Review - Financial Literacy

Unit 7 Review - Financial Literacy

8th Grade

44 Qs

quiz-placeholder

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Unit 7 Review - Financial Literacy

Unit 7 Review - Financial Literacy

Assessment

Quiz

Mathematics

8th Grade

Medium

Created by

Jacqueline Solitare

Used 5+ times

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44 questions

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1.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

What is the simple interest formula?

I=rt
I=prt
I=bh
I=Bh

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The formula for Simple Interest is I=Prt. The P represents the principle. Principle is ...

the starting amount of money borrowed or deposited

the percent interest per year

the amount of time you borrow money

the amount the bank owes you for being a customer at their bank

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

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

4
8
12
16

4.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

$160

$800

$80,000

$16

5.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

Find the simple interest paid on a loan of $750 with an 18% rate over 2 years.

$135

$13,500

$270

$27,000

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Kennedy won $3,000 from a radio contest. If she puts this money in a bank account that earns 2.9% simple interest, how much will she have in total in her account at the end of 10 years?

$8700

$38,700

$870

$3,870

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How do you calculate the balance in an account, with interest?

Subtract the interest from the principle amount
Multiply the principle, rate and time
Add the interest to the principle amount
Add the principle amount and the time

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