Free Printable Interest

1.

Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

a)

$150

b)

$192

c)

$1350

d)

$1392

2.

Principal = $500
Interest rate =5%
Time = 5 years
What is the interest earned?

a)

95

b)

105

c)

125

d)

135

3.

Dan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?

a)

$120

b)

$144

c)

$1,200

d)

$1,440

4.

Jenna borrowed $5,000 for 3 years and had to pay $1,350 simple interest at the end of that time. What rate of interest did she pay?

a)

6%

b)

6%

c)

8%

d)

9%

5.

The simple interest formula is I=Prt. What does the t represent?

a)

Principle

b)

Interest

c)

Time, in hours

d)

Time, in years

6.

Write the decimal as a percent.
0.37

a)

37%

b)

3.7%

c)

.37%

7.

Write the percent as a decimal.
4.3%

a)

4.3

b)

.43

c)

.043

d)

4300

8.

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

a)

Important

b)

Interest

c)

Internet

d)

Igloo

9.

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

a)

Principal

b)

Interest

c)

rate

d)

time

10.

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

a)

fraction

b)

decimal

c)

ratio

d)

dollar amount

11.

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

a)

the amount of money borrowed or deposited

b)

the percent interest for his year

c)

the amount taxed

d)

the amount the bank owes you for being a customer at their bank

12.

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

a)

$7.50

b)

$26.25

c)

$87.5

d)

$262.50

13.

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

a)

the amount of money borrowed or deposited in a savings account

b)

the percent interest for his year

c)

the amount taxed

d)

the amount the bank owes you for being a customer at their bank

14.

Julie borrowed $3,500 for 3 years at 7½% simple interest rate.
How much interest is that?

a)

Julie borrowed $3,500 for 3 years at 7½% simple interest rate.
How much interest is that?

b)

$787.50

c)

$810

d)

$812.50

15.

The simple interest formula is I=Prt. What does the t represent?

a)

Principle

b)

Interest

c)

Time, in hours

d)

Time, in years

16.

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

a)

the amount of money borrowed or deposited

b)

the percent interest for his year

c)

the amount taxed

d)

the amount the bank owes you for being a customer at their bank

17.

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

a)

$7.50

b)

$26.25

c)

$87.5

d)

$262.50

18.

Emilio borrows $1200 from a bank with 8% simple interest per year. How much will he have to pay back total in 2 years?

a)

$150

b)

$192

c)

$1350

d)

$1392

19.

Ann puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?

a)

4

b)

8

c)

12

d)

16

20.

Lauren has $100 in a savings account that earns 10% interest annually. How much interest will she earn in 2 years?

a)

$20

b)

$2

c)

$200

d)

$0.20

21.

Lauren has $100 in a savings account that earns 10% interest annually. How much interest will she earn in 2 years?

a)

$20

b)

$2

c)

$200

d)

$0.20

22.

Dayton has $90 in a savings account that earns 5% annually. How much will he have in his account in 1 year? (Hint: First find the interest, then add it to the original amount.)

a)

$4.50

b)

$945

c)

$45

d)

$94.50

23.

You get a student loan to pay for you educational expenses this year. Find the interest on the loan if you borrowed $2,000 at 8% for 1 year?

a)

$16

b)

$80

c)

$160

d)

$800

24.

You are starting your own small business. You borrow $10,000 from the bank at a 9% interest rate for 5 years. Find the interest you will pay on this loan.

a)

$450

b)

$14,500

c)

$900

d)

$4,500

25.

You are tired at the end of the school year and decided to borrow $500 to go on a trip to Florida. You go to the bank and borrow the money at 11% for 2 years. How much interest will you pay on the loan? How much will you pay the bank at the end of the loan?

a)

$55, $555

b)

$210, $500

c)

$110, $510

d)

$110, $610

26.

Jane's dad wants to buy her a car for her birthday. He knows she really wants a Honda Civic, but he would need to take out a loan in order to get her the car she wants. He takes out a loan for $2,500. The money is borrowed at 9% for 7 months. How much interest will he have to pay on the loan?

a)

$225

b)

$2,700

c)

$131.25

d)

$1,575

27.

Jane's dad wants to buy her a car for her birthday. He knows she really wants a Honda Civic, but he would need to take out a loan in order to get her the car she wants. He takes out a loan for $2,500. The money is borrowed at 9% for 7 months. How much would it cost for Jane's dad to repay the loan?

a)

$131.25

b)

$2,500

c)

$263.13

d)

$2,631.25

28.

Suppose Sovereign Bank is offering its customers 3% interest on savings accounts. If a customer deposits $1,500 in the account, what does the customer have in their bank account after 5 years?

a)

$1,725

b)

$225

c)

$172.50

d)

$22,500

29.

Dianna deposits $725 into her savings account that earns 2% interest annually. How much money will Dianna have in her account after one and a half years?

a)

$21.75

b)

$217.50

c)

$746.75

d)

$$942.50

30.

Jaime wants to earn $500 in interest so she'll have enough to buy a used car. She puts $2,000 into an account that earns 2.5% interest. How long will she need to leave her money in the account to earn $500?

a)

10 years

b)

1 year

c)

5 years

d)

.1 years

31.

Tom deposits $300 in a savings account at Wells Fargo that pays 4% interest annually. How much money will Tom earn in interest after 9 months?

a)

$10,800

b)

$900

c)

$9

d)

$108

32.

Tom deposits $300 in a savings account at Wells Fargo that pays 4% interest annually. What is the total amount that will be in his bank account after 9 months?

a)

$309

b)

$3,900

c)

$408

d)

$390

33.

Mr. Peterson wrote a check for $7,820 to pay off the interest on a loan which was given to him at a rate of 5% simple interest for 4 years. How much money did he originally borrow?

a)

$3,910

b)

$391

c)

$1,955

d)

$39,100

34.

If the account balance at the end of seven years on an investment of $470 is $601.60, what was the interest rate?

a)

4%

b)

18%

c)

.04%

d)

1.8%

35.

Find the simple interest paid on an investment of $350 at a rate of 4.5% for 36 months.

a)

$4,725

b)

$567

c)

$42

d)

$47.25

36.

To buy a lap top, Elena borrowed $2,000 for 3 years at an annual simple interest rate of 5%. What is the total amount that she will repay?

a)

$45

b)

$3,600

c)

$150

d)

$300

37.

To buy a car, Jessica borrowed $15,000 for 3 years at an annual simple interest rate of 9%. What is the total amount that she will repay?

a)

$4,050

b)

$15,000

c)

$19,050

d)

$23.050

38.

Robert deposits $3,000 into his savings account at Wells Fargo which earns him 8%. What is the total amount he has after two years?

a)

$3,480

b)

$4,800

c)

$480

d)

$48

39.

Karissa deposited $10,000 for 4 years at a rate of 6% interest. Find the amount Karissa has in her account after 4 years.

a)

$1,500

b)

$12,400

c)

$2,400

d)

$12,000

40.

Justin deposited $1,000 into a retirement account when he was 18 years old. How much will Justin have in this account after 50 years at a yearly simple interest rate of 7.5%?

a)

$3,750

b)

$1,350

c)

$37.50

d)

$4,750

41.

You get a student loan to pay for you educational expenses this year. Find the interest on the loan if you borrowed $2,000 at 8% for 1 year?

a)

$16

b)

$80

c)

$160

d)

$800

42.

You are starting your own small business. You borrow $10,000 from the bank at a 9% interest rate for 5 years. Find the interest you will pay on this loan.

a)

$450

b)

$14,500

c)

$900

d)

$4,500

43.

Jane's dad wants to buy her a car for her birthday. He knows she really wants a Honda Civic, but he would need to take out a loan in order to get her the car she wants. He takes out a loan for $2,500. The money is borrowed at 9% for 7 months. How much interest will he have to pay on the loan?

a)

$225

b)

$2,700

c)

$131.25

d)

$1,575

44.

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

a)

fraction

b)

decimal

c)

ratio

d)

dollar amount

45.

Caiden earned $475 from mowing lawns last summer.He deposited this money in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

a)

$827.52 (Mr. Williams)

b)

$831.10 (Mrs. Hoch)

c)

$839.45 (Mr. Krajunus)

d)

$846.80 (Ms. Palombo)

46.

In the compound interest formula A=P(1+r)^t what does the A stand for?

a)

The amount of interest

b)

The total amount

c)

The interest rate

d)

The time

47.

In the compound interest formula A=P(1+r)^t what does the P stand for?

a)

The time

b)

The total amount

c)

The principal amount (original amount)

d)

The interest rate

48.

Jacob borrows $500 from Abraham and agrees to have the loan compounded annually for 5 years with an interest rate of 2.5%. How much will the total amount be that Jacob owes?

a)

$565.70

b)

$262609.38

c)

$65.70

d)

$630.20

49.

Henry deposits $750 into a college savings account that is compounded annually when his parents received as a stimulus package. If Henry lets the money sit in the account without adding or removing any and receives a 8.5% interest rate, how much money will he have total after 5 years?

a)

$1127.74

b)

$1535.24

c)

$2345.67

d)

$850.76

50.

Trevor wants to have $4000 saved up in 3 years for a car. If he invests $1500 in a savings account that is compounded annually at an interest rate of 12%, will he have enough money at the end of the 4 years?

a)

Yes

b)

No

51.

Chris borrows $450 from Gavin. Gavin lets Chris choose either a simple interest loan for 10 years with a 3.5% interest rate or a loan compounded annually for 7 years with a 2% interest rate. Which should Chris choose if he wants the cheaper plan? Use I=P*r*t for simple interest (make sure to add I plus P at the end) and A=P*(1+r)^t for compound interest.

a)

The simple interest plan

b)

The compound interest plan

52.

Change 6.5% to a decimal

a)

.65

b)

6.5

c)

.065

d)

.065%

53.

Change 18% to a decimal

a)

18

b)

.18

c)

.018

d)

.18%

54.

What does P represent in the equation A=P(1+r)^t

a)

rate

b)

principal

c)

time

d)

amount

55.

What does r represent in the equation A=P(1+r)^t

a)

rate

b)

principal

c)

time

d)

amount

56.

Caiden deposited $475 in an account that pays an interest rate of 3.8% compounded annually. What will be his balance after 15 years?

a)

$827.52

b)

$831.10

c)

$839.45

d)

$846.80

57.

You borrowed $59,000 for 2 years at 11% which was compounded annually. What is the total?

a)

$13,693.90

b)

$1,363.90

c)

$72,693.90

d)

$73,793.90

58.

You borrowed $1,690 for 5.5 years at an interest of 5.7%. How much is the total you pay?

a)

$1,690

b)

$2,292.45

c)

$1,87.55

d)

$3,982.45

59.

Which HBCU is located in the state of Texas?

a)

Langston University

b)

Prairie View A & M University

c)

Morehouse College

d)

Texas A & M University

60.

What HBCU did Oprah Winfrey attend?

a)

North Carolina A&T

b)

Tennessee State U

c)

Tuskegee

d)

Fisk

61.

Which HBCU did Taraji P. Henson attend?

a)

Grambling State University

b)

Howard University

c)

Fisk University

d)

Spellman College

62.

HBCU stands for ...

a)

Historically Better College and University

b)

Helping Blacks in College and Universities

c)

Historically Black College and University

d)

Historically Below Common Universities

63.

Only African Americans are allowed to attend HBCU's

a)

False

b)

True

64.

Which of the following is an HBCU?

a)

McNeese State University

b)

Louisiana State University

c)

Harvard University

d)

Howard University

65.

Which prominent African American leader attended an HBCU?

a)

Barack Obama

b)

Malcolm X

c)

Martin Luther King, Jr.

d)

Michael Jackson

66.

Every HBCU was created by black people.

a)

True

b)

False

67.

The first Historically Black College & University, Cheyney University, was founded in ______.

a)

1908

b)

1978

c)

1837

d)

1492

68.

Which is not a historically black medical school?

a)

Meharry Medical College

b)

Morehouse School of Medicine

c)

Howard University School of Medicine

d)

Tuskegee University

69.

Matthew Knowles, the former manager of Destiny’s Child and daughter’s Beyonce & Solange Knowles graduated from which university in 1974?

a)

Fisk University

b)

Texas Southern University

c)

Southern University

d)

Tennessee State University

70.

What is the first black fraternity to be founded at a HBCU?

a)

Alpha Phi Alpha Fraternity, Inc.

b)

Omega Psi Phi Fraternity, Inc.

c)

Phi Beta Sigma Fraternity, Inc.

d)

Kappa Alpha Psi Fraternity, Inc.

71.

The music artist, 2 Chainz, attended which university and majored in?

a)

Clark Atlanta University, Social Work

b)

Alabama State University, Psychology

c)

Albany State University, Mass Comm

d)

Alabama A&M University, Criminal Justice

72.

What actor was expelled from Morehouse College for student activism?

a)

Spike Lee

b)

Samuel L. Jackson

c)

Denzel Washington

d)

Wesley Snipes

73.

The Rev. Dr. Martin Luther King graduated from this HBCU:

a)

Southern University

b)

Morehouse College

c)

Howard University

d)

Clark Atlanta University

74.

Astronaut Dr. Ronald E. McNair attended this HBCU:

a)

Morehouse College

b)

North Carolina A&T University

c)

Xavier

d)

Howard University

75.

Recent NFL Hall of Fame inductee, Jerry Rice, graduated from this HBCU:

a)

Grambling State University

b)

Mississippi Valley State University

c)

Dillard

d)

Jackson State University

76.

Michael Strahan, before playing 14-years as NY Giants defensive end, graduated from this HBCU:

a)

Texas Southern University

b)

Alabama State University

c)

Prairie View A&M University

d)

Tennessee State University

77.

Wanda Sykes, Emmy-winning member of Alpha Kappa Alpha Sorority, Inc. graduated from:

a)

Talladega College

b)

Hampton University

c)

Tuskegee University

d)

Grambling State University

78.

Yolanda Adams, 5X Grammy-winning member of Alpha Kappa Alpha Sorority, Inc., graduated from:

a)

Southern University

b)

Spelman College

c)

Claflin University

d)

Texas Southern University

79.

Lonnie Johnson, the inventor of one of the top 20 best-selling toys (Supersoaker), graduated from:

a)

Florida A&M University

b)

Howard University

c)

Tuskegee University

d)

Shaw University

80.

Rapper David Banner earned his business degree from and was SGA president of this HBCU:

a)

Tougaloo College

b)

Grambling State University

c)

Jackson State University

d)

Southern University

81.

P. Diddy interned at Upton Records while attending this HBCU:

a)

Fisk University

b)

Howard University

c)

Morgan State University

d)

Morehouse College

Interest

Total questions: 81

Worksheet time: 1hrs 29mins

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