TEKS.MATH.7.13E

The interest received on a savings account varies directly with the amount deposited. Daniel received $55.35 in interest on $1230 he deposited. How much interest would Daniel have received if he had deposited $2000 into his account?

• 34.04
• 90.00
• 1,285.35
• 44,444.44

Tags

TEKS.MATH.7.4C

TEKS.MATH.7.13E

Leroy borrowed $1500 at an annual simple interest rate of 12%.  He paid $270 in interest.  For what time period did Leroy borrow the money?

• 8 years
• 5 years
• 18 months
• 18 years

Tags

TEKS.MATH.7.13E

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

TEKS.MATH.7.13E

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

• $120
• $144
• $1,200
• $1,440

Tags

TEKS.MATH.7.4D

TEKS.MATH.7.13E

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

• Principal
• Interest
• rate
• time

Tags

TEKS.MATH.7.13E

A bank is offering 7% annual compound interest on a savings account.  If you deposit $1,500, how much interest will you earn in three years?

• $1837.56
• $337.56
• $30000
• $31500

Tags

TEKS.MATH.7.4D

TEKS.MATH.7.13E

Rosie will deposit $1,420 in an account that earns 4% simple interest every year for 4 years. Her sister Avery will deposit $1,400 in an account that earns 6% interest compounded annually for 4 years.  What is the difference in the amount earned between the two sisters over the 4 years?

• Rosie will earn $120.27 more than Avery.
• Avery will earn $1540.27 more than Rosie.
• Rosie will earn $1540.27 more than Avery.
• Avery will earn $120.27 more than Rosie.

Tags

TEKS.MATH.7.13E

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

• $100

• $120

• $180

• 1200

Tags

TEKS.MATH.7.4D

TEKS.MATH.7.13E

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

• 1400
• 1000
• 14000
• 14

Tags

TEKS.MATH.7.13E

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

TEKS.MATH.7.13E