Simple Interest

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

• $150
• $192
• $1350
• $1392

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Tags

CCSS.7.RP.A.3

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

• $120
• $144
• $1,200
• $1,440

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

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

What is the interest earned on a savings account over 2 years, given a principal of $200 and a rate of 5%?

• $5

• $25

• $20

• $2

What does the R in I =PRT mean?

• rate

• real number

• recommend

• rounding

What does the P in I =PRT mean?

• Power

• Principal

• Product

• Percent

What is the simple interest on a housing loan of $350,000, over 30 years with a rate of 4.5%?

• $350,00

• $47,250

• $350,000

• $472,500

Tags

CCSS.7.RP.A.3

What is the interest on a savings account at a rate of 2%, given a starting amount of $575, over 1 year's time?

• $115

• $586.50

• $11.50

• $1.50

You take out a car loan. How much will you pay in total for the car, if your loan is for $8000, at a rate of 5% interest, over 3 years?

• $1,200

• $120

• $920

• $9,200