Simple and Compound

Julie borrowed $3,500 for 3 years at 7½% simple interest rate.

How much interest is that?

• $362.20

• $787.50

• $810

• $812.50

Answer explanation

Tags

CCSS.7.RP.A.3

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

• 4

• 8

• 12

• 16

Answer explanation

Tags

CCSS.7.RP.A.3

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

Answer explanation

Tags

CCSS.7.RP.A.3

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800
• $1,000
• $1,200
• $1,500

Answer explanation

Tags

CCSS.7.RP.A.3

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

• 4
• 8
• 12
• 16

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

Answer explanation

Tags

CCSS.7.RP.A.3

Find the simple interest earned when the principal is $500 at a rate of 10% held in the bank for 9 months.

• $37.50

• $40,000

• $50

• $400

Answer explanation

Tags

CCSS.7.RP.A.3

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

• $480

• $3,480

• $4,800

• $7,800

Answer explanation

Tags

CCSS.7.RP.A.3

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays a simple interest rate of 3.8%. What will be the amount of interest earned after 15 years?

• $3182.50

• $270.75

• $2707.50

• $745.75

Answer explanation

Tags

CCSS.7.RP.A.3

Emily’s parents put $1500 in her bank account for college tuition at a simple interest rate of 8.25%. What will be the balance after 18 years?

• $22,275

• $2227.50

• $12,375

• $3727.50

Answer explanation

Tags

CCSS.7.RP.A.3