Simple Interest
a year ago
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10 QuestionsShow answers
  • Question 1
    120 seconds
    Q.

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

    answer choices

    fraction

    decimal

    ratio

    dollar amount

  • Question 2
    120 seconds
    Q.

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

    answer choices

    the amount of money

    the percent interest for his year

    the rate

    the percent proportion

  • Question 3
    120 seconds
    Q.

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

    answer choices

    4.35

    .435

    .0435

    4300

  • Question 4
    120 seconds
    Q.

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

    answer choices

    It

    Interest

    the Headless Iron Man

    Ignoramus

  • Question 5
    300 seconds
    Q.

    This mysterious hand went to the mall and saw a massage chair that he would have to take a loan out to purchase. The total of the loan was $6600. The bank said that he could get a simple interest rate of 8% for 5 years. What is the total amount that the mysterious hand will pay for the chair?

    answer choices

    $2600

    $924

    $9240

    $260

  • Question 6
    300 seconds
    Q.

    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?

    answer choices

    $800

    $1,000

    $1,200

    $1,500

  • Question 7
    300 seconds
    Q.

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

    answer choices

    $150

    $192

    $1350

    $1392

  • Question 8
    300 seconds
    Q.

    Jerry borrowed $4,000 for 5 years at 6% simple interest rate. What will the value of Jerry's account be after 5 years?

    answer choices

    $520,000

    $120,000

    $5,200

    $1,200

  • Question 9
    180 seconds
    Q.

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

    answer choices

    4

    8

    12

    16

  • Question 10
    30 seconds
    Q.

    Mr. Pham has $410,000 in a retirement account that earns 3.85% simple interest each year. Determine the amount earned each year by this investment.

    answer choices

    $15,785

    $157,850

    $425,785

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