Calculate Interest

Calculate Interest

8th Grade

14 Qs

quiz-placeholder

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Calculate Interest

Calculate Interest

Assessment

Quiz

Mathematics

8th Grade

Practice Problem

Medium

CCSS
7.RP.A.3, 8.EE.C.7B, 6.EE.B.6

Standards-aligned

Created by

Anthony Clark

Used 2+ times

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Calculate the interest. I = PRT,

Principal = $1000,

Rate = 6%,

Time = 2 years

$100

$120

$180

1200

Tags

CCSS.6.EE.B.6

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.

the amount of money borrowed or saved (invested or deposited in an account)

the percent interest for his year

the amount taxed

the amount the bank owes you for being a customer at their bank

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Sam borrowed $4,500 for 2 years and had to pay $630 simple interest at the end of that time. What rate of interest did he pay?

6%

7%

8%

9%

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

I = Prt where r represents the rate.  Rates must be converted into ____ before multiplying.

fractions

mixed numbers

decimals

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

6.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Dan borrows $1200 from a bank with 8% simple interest per year.  How much will he have to pay back IN TOTAL after 2 years?

$150

$1350

$192

$1392

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

1 min • 5 pts

Howard borrowed $4,000 from the bank at an interest rate of 8%. He has to pay it back in 2 years. How much interest will he pay?

$640

$64

$74

$460

Tags

CCSS.7.RP.A.3

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