7th Quick Math 10/27 (Simple Interest)

What is the simple interest formula?

• I=rt
• I=prt
• I=bh
• I=P(1 + r)^t

Tags

CCSS.7.RP.A.3

How do you calculate the total amount __________?

• Rate + Time

• Principal + Interest Earned

• Interest + Rate

• Principal + Time

Tags

CCSS.7.RP.A.3

What does the t represent in the simple interest formula?

• Principle
• Interest
• Time, in hours
• Time, in years
• Rate

The "r" in the simple interest formula comes in the form of a?

• years

• %

• $

• None of the above

Tags

CCSS.7.RP.A.3

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

Tags

CCSS.7.RP.A.3

Ken borrowed $300 over 5 years. In his five years to pay the $300 back, he is charged 4% simple interest. Which expression can be used to calculate how much interest Ken must pay?

• 300 x .04

• 300 x .04 x 5

• 300 x .004 x 5

• 300 x .004

• 300 x 4 x 5

Tags

CCSS.7.RP.A.3

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

Tags

CCSS.7.RP.A.3

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

Tags

CCSS.7.RP.A.3

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

• $480

• $3,480

• $4,800

• $7,800

• Not here

Tags

CCSS.7.RP.A.3

Karl has a loan of $45,580. This loan has a simple interest rate of 4% per year. What is the amount of interest That Karl will be charged on this loan at the end of one year?

• $47,403.20

• $11,395

• $18,232

• $1,823.20

Tags

CCSS.7.RP.A.3