Interest Quiz

What does the I in I = PRT mean?

• invest

• interest

• ice cream

• internal

Tags

CCSS.7.RP.A.3

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

• $5

• $25

• $20

• $2

Tags

CCSS.7.RP.A.3

What does the R in I =PRT mean?

• rate

• real number

• recommend

• rounding

Tags

CCSS.7.RP.A.3

What does the P in I =PRT mean?

• Power

• Principal

• Product

• Percent

Tags

CCSS.7.RP.A.3

What would be the total amount of your student loan, if you had to pay back a loan of $10,550, at a rate of 3% simple interest over the course of 10 years ?

• $13,715

• $3165

• $31,650

• $10,550

Tags

CCSS.7.RP.A.3

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

Principal = $500

Interest Rate = 5%

Time = 5 years

What is the simple interest earned?

• $95

• $125

• $105

• $135

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

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

In the compound interest formula A=P(1+r)^t what does the A stand for?

• The amount of interest

• The total amount

• The interest rate

• The time