Simple & Compound Interest
Quiz
•
Business
•
8th Grade
•
Practice Problem
•
Medium
Corey Troxell
Used 6+ times
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7 questions
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1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
I = Prt where r represents the rate. Rates must be converted into ____ before multiplying.
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
What is 7.25% converted to a decimal?
3.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the simple interest earned.
I = P × r × t
4.
MULTIPLE CHOICE QUESTION
3 mins • 1 pt
Principal = $800
Interest Rate = 3.5%
Time = 6 months
Find the simple interest earned.
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Find the compound interest:
Principal: $1735
Interest Rate: 0.8%
Time: 1 year
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of interest builds upon the interest and grows the fastest?
Compound Interest
Simple Interest
Hobbies
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which type of interest will credit card companies and banks charge you on money you own (debt)?
Simple Interest
Compound Interest
Hobbies
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