TEKS.MATH.7.13E

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

• Principle
• Interest
• Time
• Percent Rate

Tags

TEKS.MATH.7.13E

Robert invested $200 in a retirement account that had a rate of 20% that compounds annually.  If Robert leaves his money in for 3 years, how much money will be in his account rounded to the nearest cent?

• $240.50
• $300.60
• $288.00
• $345.60

Tags

TEKS.MATH.7.4D

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

Sarah borrowed $18,000 for 4 years at an annual simple interest rate of 7%.  What is the total amount she will repay for the car loan?

• $504000
• $5040
• $23040
• $18000

Tags

TEKS.MATH.7.4D

TEKS.MATH.7.13E

A bank is offering 2.5% simple interest on a savings account.  If you deposit $5,000, how much interest will you earn in three years?

• $5375
• $375
• $37500
• $42500

Tags

TEKS.MATH.7.4D

TEKS.MATH.7.13E

Ricco deposits $500 in an account that earns 2.5% interest compounded annually for 3 years.  Wally deposits $500 in an account that earns 5.1% interest compounded annually for 2 years.  Who will earn the greatest amount of interest?

• Ricco will earn $13.85 more than Wally
• Wally will earn $13.85 more than Ricco

Tags

TEKS.MATH.7.13E

Find the ending balance:
$1,400 at 4% for 60 months

• $1,456
• $1,680
• $280
• $1,703.31

Tags

TEKS.MATH.7.4D

TEKS.MATH.7.13E

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

• $150
• $192
• $1350
• $1392

Tags

TEKS.MATH.7.13E

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

TEKS.MATH.7.4D

TEKS.MATH.7.13E

After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn?

• 50%

• 5%

• 500%

• 7.5%

Tags

TEKS.MATH.7.4D

TEKS.MATH.7.13E