Finance

Finance

9th - 12th Grade

•

33 Qs

quiz-placeholder

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Finance

Finance

Assessment

Quiz

•

Mathematics

•

9th - 12th Grade

•

Hard

•
CCSS
7.RP.A.3, 6.RP.A.3C, 7.EE.B.3

+14

Standards-aligned

Created by

tom byrne

Used 2+ times

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33 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Principal
Interest
Rate
Time

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Principal and Interest are always___________.

fraction
decimal
percent
dollar amount

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Principal = $350.
Interest rate = 2.5% p.a. simple interest
TIme = 3 years.
How much interest is earned?

$7.50
$26.25
$87.5
$262.50

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Sandy borrows $1200 from a bank with 8% p.a simple interest.  What is the total amount he will have to be pay back in 2 years?

$150
$192
$1350
$1392

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Mr. Peterson paid $1,020 in interest for a loan, which was given to him at a rate of 5% p.a simple interest for 3 years.  How much money did he borrow originally?

$5,400
$6,800
$3,240
$14,620

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

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

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