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Simple Interest and Present Value Quiz

Simple Interest and Present Value Quiz

Assessment

Interactive Video

Mathematics

9th - 10th Grade

Practice Problem

Hard

Created by

Nancy Jackson

FREE Resource

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the formula used to calculate the future value in simple interest?

A = P(1 - rt)

A = P + rt

A = P(1 + rt)

A = P(rt)

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If you want a future value of $5000 at a 12.5% interest rate over 13 weeks, what is the principal you need to invest?

$4848.48

$4500

$5000

$5200

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How do you convert a percentage to a decimal for use in the simple interest formula?

Move the decimal point one place to the right

Move the decimal point two places to the left

Move the decimal point one place to the left

Move the decimal point two places to the right

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In the context of simple interest, if the principal is $2600 and the future value is $2746.25 after 9 months, what is the interest rate?

5.5%

8.5%

6.5%

7.5%

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When solving for the interest rate in simple interest, what is the final step after finding the decimal value?

Multiply by 100 to convert to a percentage

Subtract 100 to convert to a percentage

Divide by 100 to convert to a percentage

Add 100 to convert to a percentage

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