In the Simple Interest Formula, P represents the Principal. The Principal is ___________________________________________.
Simhttps://cf.quizizz.com/img/quizizz_logos/white-brple Interest

Quiz
•
Mathematics
•
11th Grade
•
Hard
Ms Bridgeman
Used 9+ times
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10 questions
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1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
The amount of money borrowed or deposited.
The percentage interest for the year.
The amount taxed.
The amount the bank owes you for being a customer.
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
The Principal and Interest are always ___________________.
fractions
decimals
percentage
money
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
When calculating Simple Interest and the time is given in months, how do you convert to years?
Add 12 to the months.
Divide the months by 12.
Multiply 12 times the months.
It is impossible to change the months to years.
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Julie borrowed $3,500 for 3 years at 7 1/2% simple interest rate. How much interest did you pay on the money borrowed?
$78,750
$787.50
$810
$812.50
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Ann deposits $300 in her bank account, earning 4% interest. How much will she earn in interest in 1 year?
$4
$8
$12
$1200
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
What does "I" in the Simple Interest Formula represent?
Interest accumulated per month
The amount of money invested in the bank.
The amount of money charged on a loan or paid on an investment.
The rate at which payment would be calculated.
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Convert 18 months to years.
1.8 years
2.5 years
this cannot be converted
1.5 years
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