Simple interest

Veronica took out a 48 month loan of $5,500 to make some home improvements. At a simple interest rate of 3.25%, how much total will she pay?

• $ 6,740.25

• $ 6,215.00

• $ 6,393.75

• $ 6,575.50

• $ 6,036.25

Tags

CCSS.7.RP.A.3

Scott took out a 72 month loan for $35,000 to purchase a new boat. If Scott paid $8,925 in simple interest, what was the interest rate?

• 3.5%

• 4.25%

• 4.5%

• 4.75%

• 5.1%

Tags

CCSS.7.RP.A.3

Jane received $875 from her graduation party. She put the money in a bank with a 4% simple interest rate. How much interest will she have earned after 7 years?

• $205

• $225

• $245

• $2,250

• $2,450

Tags

CCSS.7.RP.A.3

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

• $100

• $120

• $180

• 1200

Tags

CCSS.7.RP.A.3

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

• Principal
• Interest
• rate
• time

Tags

CCSS.8.EE.C.7B

Mark took out a loan for $25,690 to purchase a new truck at a simple interest rate of 5.2%. How much interest will he pay on his truck after 5 years?

• $6,679.40

• $32,369.40

• $66,794

• $679.40

Tags

CCSS.7.RP.A.3

The simple interest formula is I=Prt.  The P represents the principle.  The principle is ___________________.  

• the amount of money borrowed or deposited
• the percent interest for his year
• the amount taxed
• the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

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

• $800
• $1,000
• $1,200
• $1,500

Tags

CCSS.7.RP.A.3

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% simple interest. If she spent $7400 on furniture, how much will she have paid in total after 8 years?

• $5624

• $13,024

• $56,240

• $1302.40

Tags

CCSS.7.RP.A.3

Calculate the interest.  I = PRT,
Principal = $10000,
Rate = 7%,
Time = 20 years

• 1400
• 1000
• 14000
• 14

Tags

CCSS.6.EE.B.7