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Simple Interest Solve for Rate

Authored by Anthony Clark

Mathematics

7th Grade

CCSS covered

Used 1+ times

Simple Interest Solve for Rate
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10 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When Loofa was born, her parents put $8,000 into a college fund account that earned 9% simple interest. Find the amount of interest earned after 18 years.

$720

$20,960

$1,080

$12,960

Tags

CCSS.7.RP.A.3

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Olivia would like to buy some new furniture for her home. She decides to buy the furniture on credit with 9.5% simple interest. If she spent $7400 on furniture, how much will she have paid in total after 8 years?

$5624

$13,024

$56,240

$1302.40

Tags

CCSS.7.RP.A.3

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

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

Important

Interest

Internet

Igloo

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

After 12 years, a deposit of $10,000 into your college account has earned $6,000 in interest payments. What simple interest rate did the account earn?

50%

5%

500%

7.5%

Tags

CCSS.7.RP.A.3

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Kermit took out a 4 year loan for $5,500. He had to pay a total of $1,870 in interest payments. What rate did he pay for his loan?

85%

5.5%

8.5%

14%

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

How much interest would you earn if you deposited $575 for 3 months at 2.88% simple interest?

$4.14

$4,968

About $400

$1,725

Tags

CCSS.7.RP.A.3

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Find the simple interest paid on a loan of $1,500 at a rate of 19% 15 months.

$356.25

$427,500

$4,275

$285

Tags

CCSS.7.RP.A.3

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