Simple Interest

Quiz
•
Mathematics
•
9th - 12th Grade
•
Hard
+5
Standards-aligned
Morgan Ulery
Used 386+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Question #1
If you wish to calculate the amount of interest earned on an investment with a rate of 6.17%, what number will you plug into your equation for the rate?
A. 0.00617
B. 0.0617
C. 0.617
D. 6.17
A
B
C
D
Tags
CCSS.6.EE.B.6
2.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Question #2
Arthur has $19,500 to invest, and wishes to gain $8,000 in interest over eleven years. Approximately what is the minimum simple interest rate that Arthur needs to achieve his goal?
A. 2.64%
B.3.04%
C. 3.72%
D. 4.51%
A
B
C
D
Tags
CCSS.6.EE.B.7
3.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Question #3
Nicole deposits $2,136 in a savings account paying 5.36% interest. To the nearest dollar, how much interest does Nicole have in total after nine years?
A. $213
B. $1,030
C. $1,272
D. $3,166
A
B
C
D
Tags
CCSS.7.RP.A.3
4.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Question #4
If you invest $8,600 at a 3.95% simple annual interest rate, approximately how long will it take for you to earn a total of $21,000 in interest?
A. 25 years
B. 36 years
C. 45 years
D. 61 years
A
B
C
D
Tags
CCSS.6.EE.B.7
5.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Question #5
In the formula I=P·R·T, what does r stand for in a loan?
A. Rate: the interest percentage you will pay on a loan
B. Ratio: the size of the interest interval compared to time
C. Return: how much money you end up earning
D. Reserves: how much money you have in the investment
A
B
C
D
Tags
CCSS.7.RP.A.3
6.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Question #6
Iris has earned $813 in interest on her investment. She made her only deposit in it seven years ago. Given that the investment yields 3.7% simple interest annually, how big was the initial deposit?
A. $1,806
B. $2,282
C. $3138
D. $3945
A
B
C
D
Tags
CCSS.6.EE.B.7
7.
MULTIPLE CHOICE QUESTION
5 mins • 1 pt
Question #7
Ike invests $7,660 in an account paying 7.27% simple interest annually. How much interest has Ike gained after four years?
A. $222.75
B. $2,227.53
C. $1,392.20
D. $13,922.05
A
B
C
D
Tags
CCSS.7.RP.A.3
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