Calculate Interest

Calculate Interest

8th Grade

10 Qs

quiz-placeholder

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Calculate Interest

Calculate Interest

Assessment

Quiz

Mathematics

8th Grade

Practice Problem

Hard

CCSS
7.RP.A.3

Standards-aligned

Created by

Anthony Clark

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

$800

$1,000

$1,200

$1,500

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Alexton the Skeleton borrowed $4,000 for 5 years at 6% simple interest rate to pay for his band equipment. How much interest is that?

$800

$1,000

$1,200

$1,500

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Mr. Pham has $410,000 in a retirement account that earns 3.85% simple interest each year. Determine the amount earned each year by this investment.

$15,785

$157,850

$425,785

Tags

CCSS.7.RP.A.3

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

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

4

8

12

16

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

$7.50

$26.25

$87.5

$262.50

Tags

CCSS.7.RP.A.3

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

What does the "I" in the interest formula stand for?

It

Interest

the Headless Iron Man

Ignoramus

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