Simple Interest

The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.

• fraction

• decimal

• ratio

• dollar amount

Tags

CCSS.7.RP.A.3

The simple interest formula is I=Prt. The P represents the principal. The principal is ___________________.

• the amount of money

• the percent interest for his year

• the rate

• the percent proportion

Tags

CCSS.7.RP.A.3

43.5% of this skeleton's body is his the mermaid tail. Write that percent as a decimal.

• 4.35

• .435

• .0435

• 4300

Tags

CCSS.5.NBT.A.3

CCSS.5.NBT.B.7

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

• It

• Interest

• the Headless Iron Man

• Ignoramus

Tags

CCSS.7.RP.A.3

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

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

Tags

CCSS.7.RP.A.3

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