Simple Interest

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50
• $26.25
• $87.5
• $262.50

Tags

CCSS.7.RP.A.3

Emilio borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back total in 2 years?

• $150
• $192
• $1350
• $1392

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

Anna invested $2,500 at an annual rate of 5%.  How long will it take until Anna earns $1,125 in interest?

• 5 years
• 8 years
• 10 years
• 9 years

Tags

CCSS.6.EE.B.7

Javon has a credit card with a $1,583 balance. His interest rate is 8.8%. If he does not pay for 3 years, how much interest does he owe?

• $4,179
• $417.91
• $133,930
• $41,791

Tags

CCSS.7.RP.A.3

Allison was left an inheritance from her Aunt Lisa. She can not touch the money until she is 21 years old, Allison is now 12 years old and inherited $50,000 that was put into an account with 2% interest. How many years until Allison is 21 years old?

• 12
• 21
• 8
• 9

You borrowed 43,800 at a SIMPLE interest rate of 4.8%. If you pay it back in 2 years, how much interest is paid pack?

• $464,280

• $85,848

• $4204.8

• $48,004.80

Tags

CCSS.7.RP.A.3

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time
• Percent Rate

Tags

CCSS.8.EE.C.7B

What is 7.25% converted to a decimal?

• .725
• 0.725
• 0.0725
• 7.25

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

• 95
• 105
• 125
• 135

Tags

CCSS.7.RP.A.3