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- 1. Multiple ChoiceStarting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?$7.50$26.25$87.5$262.50 - 2. 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
- 3. 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
- 4. Multiple Choice
The 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 - 5. Multiple ChoiceThe rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.fractiondecimalratiodollar amount
- 6. Multiple ChoiceAnna invested $2,500 at an annual rate of 5%. How long will it take until Anna earns $1,125 in interest?5 years8 years10 years9 years
- 7. Multiple ChoiceJavon has a credit card with a $1,583 balance. His interest rate is 8.8%. If he does not pay for 3 years, how much interest does he owe?$4,179$417.91$133,930$41,791
- 8. Multiple ChoiceAllison was left an inheritance from her Aunt Lisa. She can not touch the money until she is 21 years old, Allison is now 12 years old and inherited $50,000 that was put into an account with 2% interest. How many years until Allison is 21 years old?122189
- 9. Multiple ChoiceAllison was left an inheritance from her Aunt Lisa. She can not touch the money until she is 21 years old, Allison is now 12 years old and inherited $50,000 that was put into an account with 2% interest. How much interest will Allison have earned at her 21st birthday?$900$100,000$9,000
- 10. Multiple Choice
You borrowed 43,800 at a SIMPLE interest rate of 4.8%. If you pay it back in 2 years, how much interest is paid pack?
$464,280
$85,848
$4204.8
$48,004.80
- 11. Multiple ChoiceThe simple interest formula is I=Prt. What does the t represent?PrincipleInterestTimePercent Rate
- 12. Multiple Choice
Emilio 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
- 13. Multiple ChoiceIf you are calculating the simple interest and you are given the time in months. How can you find the time in years?divide 12 by the monthsdivide the months by 12multiply 12 times the monthschange the months to a decimal
- 14. Multiple ChoiceWhat is 7.25% converted to a decimal?.7250.7250.07257.25
- 15. Multiple ChoiceInterest can be defined as:a charge for lending moneythe amount owed for borrowing moneythe amount added into your savings account when opening a bank accounta charge for convenience of accessing money in your bank
- 16. Multiple ChoiceStarting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?$7.50$26.25$87.5$262.50 - 17. Multiple Choice
Calculate the interest. I = PRT,
Principal = $1000,
Rate = 6%,
Time = 2 years
$100
$120
$180
1200
- 18. Multiple ChoiceCalculate the interest. I = PRT,
Principal = $10000,
Rate = 7%,
Time = 20 years140010001400014 - 19. Multiple ChoiceAnn puts $300 in a bank account earning 4% interest. How much will she earn in interest in 1 year?481216
- 20. Multiple ChoicePrincipal = $800
Interest Rate = 3.5%
Time = 6 months
Find the interest earned.1414016816.80 - Answer choicesTagsAnswer choicesTags