Simple Interest

What does the "I" in the interest formula stand for?

• Important
• Interest
• Internet
• Igloo

Tags

CCSS.7.RP.A.3

What does the "r" in the interest formula stand for?

• Principal
• Interest
• rate
• time

Tags

CCSS.8.EE.C.7B

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.8.EE.C.7B

The money you borrow or invest is called __________?

• Simple Interest

• Rate

• Principal

• Time

Tags

CCSS.7.RP.A.3

The Principal and Interest are always___________.

• fraction
• decimal
• percent
• money

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

What is important about how time is calculated in I= Prt ?

• it must be in months
• it must be in years
• it is not calculated

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

Maria borrowed $3,000 at a 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

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

• $300

• $540

• $500

• $400

Tags

CCSS.7.RP.A.3