Simple Interest Practice

Calculate the simple interest on a loan of $10 000 at a rate of 8.5% per annum over 1.5 years.

Stephen deposits $8 600 inn a bank account that pays simple interest at a rate of 6.5% per annum. Find how many years it will take for Stephen's money to double.

A percent is a special fraction taken out of

• 20

• My Shoe

• 100

• 103,473,841,234

Convert 18 months to years.

• 18 years

• 1.5 years

• 0.18 years

• You cannot change it to years.

Convert to 14% to a decimal.

• 1.4

• .14

• It's over 9000

• 42

Find the interest with the following information:

Principal = 50

Rate = 100%

Time = 3 Years

• 4000

• 42

• 150

• BBQ

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

• $800
• $1,000
• $1,200
• $1,500

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

• $1.20

• $12

• $40

• $120

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

The Principal and Interest are always ___________.

• fractions

• decimals

• percentages

• money