Simple and Compound Interest

What does the P in I =PRT mean?

• Power

• Principal

• Product

• Percent

Tags

CCSS.7.RP.A.3

What does the R in I =PRT mean?

• rate

• real number

• recommend

• rounding

Tags

CCSS.7.RP.A.3

What is the simple interest on a housing loan of $350,000, over 30 years with a rate of 4.5%?

• $350,00

• $47,250

• $350,000

• $472,500

Tags

CCSS.7.RP.A.3

What is the simple interest on a savings account at a rate of 2%, given a starting amount of $575, over 1 year's time?

• $115

• $586.50

• $11.50

• $1.50

Tags

CCSS.7.RP.A.3

Rachel invested $2,700 in a savings account earning 7% simple interest. If she invests for 2 years, how much money will she have in TOTAL?

(Interest + principal)

• $3,078

• $378

• $40,500

• $4536

Tags

CCSS.7.RP.A.3

Maria borrowed $3,000 at a simple interest rate of 4% per year.  How much did she have to repay after 4 years in total?

• $3480

• $3,480
• $4,800
• $7,800

Tags

CCSS.7.RP.A.3

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Tags

CCSS.7.RP.A.3

Violeta Orpilla invested $4000 in an account that earns 5% interest yearly (simple interest). She forgets about it for 12 years. How much will be in the account after all that time?

• $2400

• $6400

• $4400

• $6200

Tags

CCSS.7.RP.A.3

Your 3 year investment of $20,000 received 5.2% interest compounded annually.  What is your total return?

• $23,285.05
• $3,285.05
• $2,385
• $32,285

Tags

CCSS.HSF-LE.A.1C

You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

• $13,693.90
• $1,363.90
• $72,693.90
• $73,793.90