Simple Interest

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Tags

CCSS.7.RP.A.3

Find the simple interest to the nearest cent. $250 at 6.5% for 3 years

• $4875

• $48.75

• $2595

• $129.75

Tags

CCSS.7.RP.A.3

What does the P in I =PRT mean?

• Power

• Principal

• Product

• Percent

Tags

CCSS.7.RP.A.3

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

• Principle
• Interest
• Time, in hours
• Time, in years

Tags

CCSS.8.EE.C.7B

9 months is how many years?

• .5
• .75
• .25

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

CCSS.7.RP.A.3

Find the simple interest earned for principal of $2,000 at and 8% rate for 5 years.

• $160

• $800

• $80,000

• $16

Tags

CCSS.7.RP.A.3

Timmi puts $300 in a bank account earning 4% interest.  How much will she earn in interest in 1 year?

• 4
• 8
• 12
• 16

Tags

CCSS.7.RP.A.3

Rob has $5,000. He deposits his money into a savings account at Town Bank which offers a 4.25% interest rate. If Rob does not make any deposits or withdrawals, how much simple interest will Rob's money earn after 6 months?

• $10,625

• $1275

• $106.25

• $127,500

Tags

CCSS.7.RP.A.3

Shawn is buying a new jet ski for $12,500. His Credit Union offers 8.5% simple interest. How much interest will Shawn pay on his Jet Ski after 18 months?

• $1593.75

• $19,125

• $159,375

• $14,093.75

Tags

CCSS.7.RP.A.3