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- 1. Multiple Choice
Dalton has $40,000 in a savings account that earns 11% annually. The interest is not compounded. How much will he have in 3 years? Use the formula i = prt, where i is the interest earned, p is the principal (starting amount), ris the interest rate expressed as a decimal, and t is the time in years.
53,200
900
13,222
243,442
- 2. Multiple ChoiceThe simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.the amount of money borrowed or depositedthe percent interest for his yearthe amount taxedthe amount the bank owes you for being a customer at their bank
- 3. Multiple ChoiceEmilio 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
- 4. Multiple ChoiceBeyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?$2600$910$9100$260
- 5. Multiple ChoiceJerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?$800$1,000$1,200$1,500
- 6. Multiple ChoiceAnn puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?481216
- 7. Multiple ChoiceStarting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?7.5026.2587.5262.50 - 8. Multiple ChoicePrincipal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.1414016816.80 - 9. Multiple ChoiceJerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?$800$1,000$1,200$1,500
- 10. Multiple ChoiceDan borrowed $2,000 for 6 months at 12% annual simple interest rate. How much interest is that?$120$144$1,200$1,440
- 11. Multiple Choice
The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.fractiondecimalratiodollar amount - 12. Multiple ChoiceThe simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.the amount of money borrowed or depositedthe percent interest for his yearthe amount taxedthe amount the bank owes you for being a customer at their bank
- 13. Multiple ChoiceWrite the percent as a decimal.
4.3%4.3.43.0434300 - 14. Multiple ChoiceWrite the decimal as a percent.
0.3737%3.7%.37% - 15. Multiple ChoiceWhat does the "I" in the interest formula stand for?ImportantInterestInternetIgloo
- 16. Multiple Choice
Calculate the interest. I = PRT,
Principal = $1000,
Rate = 6%,
Time = 2 years
$100
$120
$180
1200
- 17. Multiple ChoiceCalculate the interest. I = PRT,
Principal = $10000,
Rate = 7%,
Time = 20 years140010001400014 - 18. Multiple ChoiceBeyonce went to the mall and saw a massage chair that she would have to take a loan out for $6500 to purchase. The bank said that she could get a simple interest rate of 8% for 5 years. What is the total amount that Beyonce will pay for the chair?$2600$910$9100$260
- 19. Multiple ChoiceJerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?$800$1,000$1,200$1,500
- Answer choicesTagsAnswer choicesTags