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- 1. Multiple Choice
The simple interest formula is I=Prt. The P represents the principle. The principle is ___________________.
the amount of money borrowed or deposited
the percent interest for his year
the amount taxed
the amount the bank owes you for being a customer at their bank
- 2. 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
- 3. 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 - 4. Multiple ChoiceWrite the percent as a decimal.
4.3%4.3.43.0434300 - 5. Multiple ChoiceCaiden 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 year?$827.52$831.10$839.45$846.80
- 6. Multiple Choice
View question in the picture then select the best answer
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- 7. Multiple Choice
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- 8. Multiple Choice
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- 9. Multiple Choice
View question in the picture then select the best answer
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- 10. Multiple Choice
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- 11. Multiple Choice
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- 12. Multiple Choice
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- 13. Multiple Choice
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- 14. Multiple Choice
View question in the picture then select the best answer
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- 15. Multiple Choice
View question in the picture then select the best answer
$53.13
$212.50
$1462.50
$21,250
- 16. Multiple Choice
Lucca has $1,000 to start a savings account. The account is a simple interest account with a rate of 5%. What will be the total of Lucca's account after investing the money for 10 years?
50
500
1,500
15,000
- 17. Multiple Choice
***Jayden deposits a total of $800 into his savings account each year. The account earns 2% interest compounded annually. If Jayden continues to save $800 per year, how much interest will he earn in year 4? Use the table to help you.*** THIS IS A TEST QUESTION! IF YOU CANNOT FIGURE IT OUT, YOU MUST ASK THE TEACHER FOR HELP.
$3281.28
$3482.12
$200.84
$151.80
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