Financial Math Final

Principal = $500

Interest Rate = 5%

Time = 5 years

What is the interest earned?

• $95

• $125

• $105

• $135

Tags

CCSS.7.RP.A.3

The simple interest formula is I=PRT.  What does the T represent?

• Principal

• Time, in hours

• Interest

• Time, in years

Tags

CCSS.8.EE.C.7B

Write 0.37 as a percent (%)

• 37%

• .37%

• 3.7%

Write 4.3% as a decimal.

• 4.3

• .43

• 0.043

• 4300

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

• Principal

• Rate

• Time

• Interest

Tags

CCSS.7.RP.A.3

Tina invested $2,000 in a simple interest account and earned 8% rate for 5 years. What is the interest that she earned on the account?

• $160

• $800

• $80,000

• $16

Tags

CCSS.7.RP.A.3

Emilio borrows $1200 from a bank with 8.5% simple interest per year. How much will he have to pay back total in 2 years?

• $204

• $996

• $1,020

• $1,404

Tags

CCSS.7.RP.A.3

Caiden earned $475 from mowing lawns last summer. He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 year?

• $827.52
• $831.10
• $839.45
• $846.80

Find the following Balance:
$600 invested at 6% compounded annually for 7 years.

• $2273.04
• $1080.57
• $1057.95
• $902.18

Your 6 year investment of $40,000 at 14% interest compounded annually is worth how much now?

• $47,798.90
• $87,798.90
• $127,798
• $7,798

Tags

CCSS.HSF.BF.A.2