
Unit 7 Financial Literacy
Authored by ChiaoHui Franks
Mathematics
7th Grade
Used 3+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.
$160
$800
$80,000
$16
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 8 months.
$33.50
$40,000
$50
$400
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
When Loofa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.
$720
$20,960
$1,080
$12,960
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
How much interest would you earn if you deposited $575 for 3 months at 2.88% simple interest?
$4.14
$4,968
About $400
$1,725
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Beyonce went to the mall and saw a massage chair that she would have to take a loan out for $6,500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?
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