Percent Change and Simple Interest

Sarah has $45,000 in student loans. if there is a 6% interest rate, how much will she pay back in interest over 10 years? 

• $27,000

• $72,000

• $270,000

• $315,000

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

• $800

• $1,000

• $1,200

• $1,500

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

Find the percent of change from 10 inches to 14 inches.

Find the percent of change from 48 to 36.

Find the percent of change.

From 24 teachers to 30 teachers.

• 25% decrease

• 25% increase

• 20% decrease

• 20% increase

A McDonald's cheeseburger cost $0.79 in 1999. Today a cheeseburger costs $1.00. What is the percent change?

• 21% increase

• 26.58% increase

• 26.58% decrease

• 21% decrease

If you are calculating the simple interest and you are given the time in months, how can you find the time in years?

• Add 12 to the months

• Divide the months by 12

• Multiply 12 times the months

• You cannot change it to months.

What is the formula for simple interest?

• P(1+r)^t

• Prt

• P(1+r)t

• Prt

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

• $120

• $144

• $1,200

• $1,440