Simple Interest

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

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

Julie borrowed $3,500 for 3 years at 7.5% simple interest rate. 
How much interest is that?

• $500

• $787.50
• $810
• $812.50

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?

• Add 12 to the months
• divide the months by 12
• multiply 12 times the months
• You cannot change it to months.

Tags

CCSS.7.RP.A.3

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

• Principle

• Interest
• Time, in hours

• Time, in years

Tags

CCSS.8.EE.C.7B

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years? (Amount total)

• $150
• $592

• $1350
• $1392

Tags

CCSS.7.RP.A.3

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

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

• $480
• $3,480
• $4,800
• $7,800

Tags

CCSS.7.RP.A.3

Ann puts $300 in a bank account earning 0.4% interest.  How much will she earn in interest in 1 year?

• 120

• 12

• 1.20

• 16

Tags

CCSS.7.RP.A.3

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

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

Find the simple interest earned for principal of $2,000 at and 0.08% rate for 5 years.

• $8

• $800

• $80,000

• $16

Tags

CCSS.7.RP.A.3