BrainPop Interest Quiz
Quiz
•
English, Mathematics
•
7th Grade
•
Practice Problem
•
Hard
+3
Standards-aligned
Paige Wise
Used 10+ times
FREE Resource
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Banks offer interest as an incentive to customers who open accounts. What does "incentive" mean?
Encouragement
Punishment
Trick
Gift
Tags
CCSS.L.3.4D
CCSS.L.6.4C
CCSS.L.7.4C
CCSS.L.8.4C
CCSS.L.9-10.4C
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these is an opinion about interest?
Most American banks offer interest rates below 10 percent
Interest can be compounded yearly, monthly, or even daily
An interest rate of 20 percent, compounded monthly, is far too high
Interest is accrued on savings accounts, but rarely checking accounts
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can you compare simple and compound interest?
Simple interest is paid on the principal plus accrued interest; compound interest is paid only on the principal.
Compound interest is paid on the principal plus accrued interest; simple interest is paid only on the principal.
Compound interest is paid out once a month; simple interest is paid out once a year.
Simple interest is more difficult to calculate than compound interest.
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following statements is true?
The less money you borrow from a bank, the more interest you pay
The more money you have in a bank, the less interest you accumulate
The more money you borrow from a bank, the less interest you pay
The more money you have in a bank, the more interest you accumulate
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is interest?
The amount of money in a bank account at the end of a year
The fee customers pay when they open a bank account
The percentage that banks pay to keep a customer's money
The amount of money used to open a bank account
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is true?
You pay interest when you borrow money and earn interest when you loan money.
You earn interest when you borrow money and pay interest when you loan money.
You pay interest both when you borrow and loan money.
You earn interest both when you borrow and loan money.
Tags
CCSS.7.RP.A.3
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
If your bank offers 6 percent annual simple interest, and you start with $60 in your account, how much will you have after one year?
$70.00
$66.30
$63.60
$66.00
Tags
CCSS.7.RP.A.3
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