Simple Interest and Percent of Change

Write the percent as a decimal. 
4.3%

• 4.3
• .43
• .043
• 4300

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

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

When Lisa 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

• $1,080

• $20,960

• $12,960

Tags

CCSS.7.RP.A.3

Jack deposited $1,400 in his bank account.  After 3 years, the account earned $294 in interest.  Find the simple interest rate.

• 5%
• 8%
• 7.25%
• 7%

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 8 months.

• $33.50

• $40,000

• $50

• $400

Tags

CCSS.7.RP.A.3

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

• 6%
• 6%
• 8%
• 9%

Tags

CCSS.7.RP.A.3

If you are calculating the simple interest and you are given the time in months, how can you find the time in years?

• Add 12 to the months

• Divide the months by 12

• Multiply 12 times the months

• You cannot change it to months.

Tags

CCSS.7.RP.A.3

Find time time (in years):
Principal: $3,750
Interest: $427.50
Interest Rate: 3.8%

• 3 years
• 2.3 years
• 0.3 years
• 30 years

Tags

CCSS.7.RP.A.3