Calculate Interest Rate

Calculate the interest earned on a $4,500 savings account that earns 2.5% simple interest over three years.

• $338.00

• $33.80

• $33.75

• $337.50

Tags

CCSS.7.RP.A.3

Determine the simple interest earned:  p= $2000  r= 4.6%  t= 4 years

• $2370.00

• $348.00

• $2368.00

• $368.00

Tags

CCSS.7.RP.A.3

Starting money = $350.
Interest rate = 2.5%
TIme = 3 years.
How much interest?

• $7.50

• $26.25

• $87.5

• $262.50

Tags

CCSS.7.RP.A.3

Jerry borrowed $4,000 for 5 years at 6% simple interest rate. How much interest is that?

• $800

• $1,000

• $1,200

• $1,500

Tags

CCSS.7.RP.A.3

What was the annual interest rate the account earns?

Tags

CCSS.HSF-LE.A.1C

Jane received $875 from her graduation party. She put the money in a bank with a 4% simple interest rate. How much interest will she have earned after 7 years?

• $205

• $225

• $245

• $2,250

• $2,450

Tags

CCSS.7.RP.A.3

Ethan borrowed $2,190 for a new dirt bike. He will pay the money back in 3 years with a simple interest rate of 2.5%. How much interest will he pay?

• $164.25

• $172.75

• $1,642.50

• $1,727.50

• $ 2,354.25

Tags

CCSS.7.RP.A.3

You borrow $5000 from a friend and promise to pay back $6800 in three years. What simple interest rate will you pay? Write your answer as a percent.

Tags

CCSS.7.RP.A.3

The rate is given as a percent (%).  Before using it in the simple interest formula, you must first convert it to a______.

• fraction

• decimal

• ratio

• dollar amount

Tags

CCSS.7.RP.A.3

Allison was left an inheritance from her Aunt Lisa. She can not touch the money until she is 21 years old, Allison is now 12 years old and inherited $50,000 that was put into an account with 2% interest. How much interest will Allison have earned at her 21st birthday?

• $900

• $100,000

• $9,000

Tags

CCSS.7.RP.A.3