Understanding Simple Interest Calculations

Benjamin earned $475 from mowing lawns last summer. He deposited this money in an account that pays a simple interest rate of 3.8%. What will be the amount of interest earned after 15 years?

• $3182.50

• $270.75

• $2707.50

• $745.75

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

Ryan took out a loan for $25,690 to purchase a new truck at a simple interest rate of 5.2%. How much interest will he pay on his truck after 5 years?

• $6,679.40

• $32,369.40

• $66,794

• $679.40

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSN.Q.A.1

CCSS.HSN.Q.A.2

• $750

• $600

• $500

• $650

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSA.REI.B.3

CCSS.HSN.Q.A.1

• $2000

• $2500

• $3000

• $1500

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

• $360

• $320

• $400

• $240

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.CED.A.4

• $102.50

• $105.00

• $110.25

• $115.00

Tags

CCSS.HSA.SSE.A.1

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSA.REI.A.1

• $1687.36

• $1624.86

• $1560.00

• $1728.00

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

• $2249.09

• $2250.00

• $2259.09

• $2300.00

Tags

CCSS.HSA.CED.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

• $2978

• $2950.00

• $3000.00

• $3100.00

Tags

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.BF.B.5

• $1221.40

• $1200.00

• $1180.00

• $1250.00

Tags

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5