Simple Interest

Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

What is the principle? ​ (a)  

What is the rate? ​ (b)  

What is the time? ​ (c)  

• $5,000
• 5%
• 3 years

Tags

CCSS.7.RP.A.3

Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3

• $300
• 6%
• 5 years

Tags

CCSS.7.RP.A.3

Maria deposits $300 into an account that pays simple interest at a rate of 6% per year. How much interest will she be paid in the first 5 years?

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Match the following

• rate (r)

• 70

• Interest (I)

• 2

• time (t)

• 500

• Principle (P)

• Unknown

Tags

CCSS.7.RP.A.3

Jessica borrowed $500 from a bank for 2 years and was charged simple interest. The total interest that she paid on the loan was $70. As a percentage, what was the annual interest rate of her loan?

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3

Felipe invested in a savings bond for 6 years and was paid simple interest at an annual rate of 3%. The total interest that he earned was $540. How much did he invest?

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3

Chris borrowed $8,000 from a lender that charged simple interest at an annual rate of 7%. When Chris paid off the loan, he paid $1,680 in interest. How long was the loan for, in years?

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3

To be able to go on a trip to South America, Ann decides to save for 4 years. She opens a savings account with $300. The account pays simple interest at an annual rate of 5%. She doesn't make any more deposits. What will the total amount in the account be (including interest)?

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3

Josh deposits $5,000 into an account that pays simple interest at an annual rate of . He does not make any more deposits. He makes no withdrawals until the end of years when he withdraws all the money. What will the total amount in the account be (including interest)?

Mathematical Equivalence

ON

Tags

CCSS.7.RP.A.3