Simple Interest Percent Error and Percent of Change

To find simple​ interest, you multiply the principal​ (in dollars), the interest rate​ (as a​ decimal), and the time in years. The equation 6.40=200•0.016•2 shows how to find the simple interest for a certain account after 2 years. What is the interest rate​ (as a​ percent)?

• 6.40%

• 200%

• 0.016%

• 1.6%

• 2%

You deposit $600 into a savings account that earns simple interest. After 5 years your balance is $720. Find the interest rate.

HINT: FIND THE AMOUNT OF INTEREST YOU HAVE FIRST

ONLY TYPE THE NUMBER, NOT THE PERCENT SIGN

One week, 72 people got a speeding ticket. The next week, only 36 people got a speeding ticket. What is the percent of change in the speeding tickets?

• Increase 50%

• Decrease 50%

• Increase 1%

• Decrease 1%

You estimate that 200 people attend a school concert. The actual attendance was 240.   What is the percent error?

• 20%

• 18%

• 16%

• 17%

Tracy put $3500 into an investment account that earns 4.5% annual interest. She left the money for 8 years. How much interest did she get in those 8 years?

• $1260

• $4760

• $2240

• $1860

The distance around a neighborhood is 6 miles. When Sam clocked it with an odometer, the distance was 5.52 miles.

What is the percent error of the clocking?

• 10%

• 6.5%

• 7%

• 8%

simple interest

• a fixed percent of the principal. It is found using the formula I=Prt, where P represents the principal, r the rate of interest, and t the time

• a percent change describing an increase in a quantity

• the initial amount of money borrowed or saved

• a percent change describing a decrease in a quantity

You guessed that the Chicago Cubs would win 95 games during the regular season. They actually won 103. What was your percent error? Round to the nearest tenth if necessary.

• 7.8%

• 7.7%

• 0.77%

• 0.78%

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

Linda started a savings account for her nephew with $3,000. The account earned 5% simple interest. How much interest did the account accumulate in 4 months?

• $50.00

• $600.00

• $60,000.00

• $4999.95