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Ivan deposits $5,000 into an account that pays simple interest at a rate of 5% per year. How much interest will he be paid in the first 3 years?

What is the principle? ​ (a)  

What is the rate? ​ (b)  

What is the time? ​ (c)  

• $5,000
• 5%
• 3 years

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

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

• $120
• $144
• $1,200
• $1,440

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

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

Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?

• $565.70

• $262609.38

• $65.70

• $630.20

Julia invested $1000 for college in an account earning 5% compounded annually. When she checked the account after 4 years, how much money did she find in the account?

• Not enough

• $563.24

• $1215.51

• $3200.12

Holly is taking out a loan in the amount of $10,000.  Her choices for the loan are a 4-year loan at 4% simple interest and a 6-year loan at 5% simple interest.  What is the difference in the amount of interest Holly would have to pay for each of these two loans?

• $1,600
• $3,000
• $4600
• $1,400

Tags

8.12.D

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

8.12.D

Convert to scientific notation:

520,000,000

• 52 x 10⁷

• 5.2 x 10^-7

• 5.2 x 10⁸

• 0.52 x 10⁹

Convert to scientific notation:

520,000,000

• 52 x 10⁷

• 5.2 x 10^-7

• 5.2 x 10⁸

• 0.52 x 10⁹