interest quiz

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

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

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

• 4
• 8
• 12
• 16

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 after 4 years?

• $480
• $3,480
• $4,800
• $7,800

Tags

CCSS.7.RP.A.3

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

• 6%

• 7%

• 8%

• 9%

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

• write the months as a fraction with 12 as the denominator

• multiply 12 times the months

• write the months as a fraction with 12 as the numerator

Tags

CCSS.7.RP.A.3

Anna invested $2,500 at an annual rate of 5%.  How long will it take until Anna earns $1,125 in interest?

• 5 years
• 8 years
• 10 years
• 9 years

Tags

CCSS.6.EE.B.7

Jonah earned $150.36 in interest on an account that earns 1.4% simple interest. If Jonah opened the account 12 years ago, what was the principal amount?

• $850

• $868

• $880

• $895

• $902

Tags

CCSS.6.EE.B.7

6 months is what in years?

• 6

• 1.5

• .5

• .6

Tags

CCSS.4.MD.A.1

Find the simple interest.

$2000 at 12% for 6 months

• $144

• $1440

• $120

• $1200

Tags

CCSS.7.RP.A.3