QUIZ 15 SIMPLE AND COMPOUND INTEREST

QUESTION 1

• A

• B

• C

• D

QUESTION 2

• F

• G

• H

• J

QUESTION 3

• A

• B

• C

• D

QUESTION 4

• F

• G

• H

• J

QUESTION 5

• A

• B

• C

• D

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SIMPLE INTEREST

QUESTION 6

• A

• B

• C

• D

QUESTION 7

• F

• G

• H

• J

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

The simple interest formula is I=Prt.  What does the t represent?

• Principle
• Interest
• Time
• Percent Rate

compound means _____________

• principle added into the interest

• principle subtracted from the interest

• just interest

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