
Exploring Simple and Compound Interest Concepts

Interactive Video
•
Mathematics
•
6th - 10th Grade
•
Hard
Standards-aligned

Sophia Harris
FREE Resource
Standards-aligned
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10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does the 'P' in the simple interest formula represent?
The percentage rate
The period in years
The principal amount
The total amount payable
Tags
CCSS.7.RP.A.3
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How is the interest rate expressed in the simple interest formula?
As an annual rate
As a percentage
In decimal form
As a fraction
Tags
CCSS.7.RP.A.3
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the simple interest on a principal of $770 at a rate of 16% for 6 months?
$61.60
$77.00
$38.50
$123.20
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you calculate the total amount owed on a credit card including simple interest?
Multiply the principal by the interest rate
Add the interest to the principal amount
Subtract the interest from the principal amount
Divide the principal by the interest rate
Tags
CCSS.7.RP.A.3
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the final amount when $700 is invested at 7% for 11 years, compounded annually?
$1,239.00
$1,473.40
$1,508.46
$539.00
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does monthly compounding affect the final amount compared to annual compounding?
It changes the principal amount
It decreases the final amount
It has no effect on the final amount
It increases the final amount
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'n' represent in the compound interest formula?
The number of years
The net interest rate
The nominal amount of the principal
The number of times interest is compounded per year
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