8th Math STAAR Blitzkrieg ROUND 3

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

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CCSS.HSA.SSE.A.1

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

• $150
• $192
• $1350
• $1392

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Principal = $800

Interest Rate = 3.5%

Time = 6 months

Find the interest earned.

• $14

• $140

• $168

• $16.80

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CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Sherri deposited $5,000 in a savings account that earned simple interest. She didn't make any additional deposits or withdrawals. Five years later, her account had a balance of $5,625. What was her interest rate?

• 0.225%

• 22.5%

• 2.5%

• 1.125%

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CCSS.HSA.CED.A.1

CCSS.HSA.CED.A.4

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

You borrowed $59,000 for 2 years at 11% which was compounded annually.  What total will you pay back?

• $13,693.90
• $1,363.90
• $72,693.90
• $73,793.90

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSA.SSE.B.4

CCSS.HSF.BF.A.1

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

The compound interest formula is:
A = P(1 + r)^t

What does the A represent?

• The amount of interest earned.
• The amount of time that has passed.
• The total amount of money after a certain amount of time.
• The amount required to invest.

Tags

CCSS.HSA.SSE.A.1

Bruno was given $2000 when he turned 3 years old.  His parents invested it at a 2% interest rate compounded annually.  No deposits or withdrawls were made.  Which expression can be used to determine how much money Bruno had in the account when he turned 16? 

• 2000(1+0.02)¹³
• 2000(1-0.02)¹³
• 2000(1+0.02)¹⁶
• 2000(1-0.02)¹⁶

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CCSS.HSA.CED.A.1

CCSS.HSA.SSE.A.1

CCSS.HSF.BF.A.1

CCSS.HSF.IF.B.4

CCSS.HSF.LE.A.1

CCSS.HSF.LE.A.2

CCSS.HSF.LE.B.5

Khloe needs to save $9,000 for her first year of college. Fortunately, she has an awesome part-time job. How much should she save each month if she is planning on going to college in 2 years?

• $400.00
• $425.00
• $350.00
• $375.00

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

George is considering attending the state University to obtain a 4-year bachelor's degree. For one year, tuition and fees are $10,890, room and board is $6,250 and books are $980. What will be the cost over the total 4 years of obtaining the degree?

• $18,120
• $43,560
• $36,240
• $72,480

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1

Freshman college students struggle with the decision to start at a community college or go right to a 4-year University. The cost of community college annually is about $4,500 and a 4-year University is about $10,500. How much could a student save by attending a community college their first 2 years of school and then transferring to a University?

• $42,000
• $18,000
• $12,000
• $24,000

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CCSS.HSA.CED.A.1

CCSS.HSA.REI.B.3

CCSS.HSA.SSE.A.1