Applying proportional relationships to solve multi-step problems

Principal = $500

Interest Rate= 5%

Time = 5 years

What is the interest earned?

• 95

• 105

• 125

• 135

How would be the total cost of a new iPhone 7 if the base price is $649.00 and there is a 7% tax rate?

• $45.43

• $649.07

• $603.57

• $694.43

John invests $1000 in a savings account with an annual interest rate of 8%. If he leaves the money in the account for 3 years, how much simple interest will he have earned?

• $320

• $100

• $240

• $150

Julie borrowed $3,500 for 3 years at 7.5% simple interest rate.  How much interest is that?

• Julie borrowed $3,500 for 3 years at 7½% simple interest rate. 
  How much interest is that?
• $787.50
• $810
• $812.50

Noah invested $2500 at an annual rate of 5%. How long will it take until Noah earns $1125 in interest?

Determine the balance with interest:

p= $5375  r= 6.3%  t= 2 years

• $6, 520.52
• $6,502.25
• $6,052.25
• $677.25

Solve for w:
 $\frac{4}{w-2}=\frac{-1}{w+3}$  

• 2

• -2

• 4

• -4

Daniel’s Print Shop purchased a new printer for $35,000. Each year it depreciates at a rate of 5%. How much will the printer be worth in 8 years?

• $23,219.72
• $136.72
• $51,710.94
• $16,710.94

A bicycle is being sold for $250, and the buyer wants to pay for it in three equal monthly installments. If the seller charges a simple interest rate of 6% per month, what will be the monthly installment amount? Match the following variables to their values.

• 3

• Time

• .06

• Rate

• 250

• Principal

Rodell’s parents are starting a real estate business. They borrow $99,400 from the bank to finance their start-up operations. The simple interest rate is 4.75% per year, and they plan to take 15 years to repay the loan.

Which equation works for finding the interest on their loan?

• I = 99400 x .0475 x 15

• I = 99400 x 4.75 x 15

• I = 99400 x .475 x 1.25

• I = 99400 x .0475 x 1.25