Simple Interest Rate

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

• Principal
• Interest
• Rate
• Time

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

• Principal
• Interest
• rate
• time

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.8.EE.C.7B

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Tags

CCSS.HSF.BF.A.2

Find the simple interest paid on a deposit of $225 at a rate of 1.5% over 2 years.

• $6.75

• $3.375

• $2,278.13

• $6,750

Tags

CCSS.HSF.BF.A.2

Find the simple interest paid on a loan of $750 with an 18% rate over 2 years.

• $135

• $13,500

• $270

• $27,000

Tags

CCSS.HSF.BF.A.2

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.HSF.BF.A.2

Principal = $500
Interest earned in 4 years = $60.
Find the interest rate.

• 1%
• 2%
• 3%
• 4%

Tags

CCSS.6.EE.B.6