Exploring Simple Interest Problems in Pre-Algebra

What is added to Jared's initial deposit in the first bank offer?

• $100

• 5% of the initial deposit

• $500

• 1.5% interest annually

If Jared deposits $500, which bank offer is more beneficial for him?

• First bank

• Second bank

• Both are equal

• Depends on the interest rate

What is the simple interest Victoria earns over five years with a $300 deposit at 1.6% interest?

• $4.8

• $48

• $240

• $24

How much interest does Victoria earn in eight years on a $250 deposit at 2.5% interest?

• $20

• $50

• $25

• $200

What is the total interest earned by Victoria on her $300 deposit over five years?

• $24

• $120

• $240

• $4.8 annually

What is the interest rate for Maya's sister's loan of $3400 if she pays $102 in interest annually?

• 1.6%

• 3%

• 5%

• 2.5%

What is the decimal equivalent of 1.5%?

• 0.15

• 1.5

• 15

• 0.015

If Caitlyn's brother borrows money at 6% simple interest and pays $720 in interest over six years, how much did he borrow?

• $2000

• $720

• $1200

• $600

How much did Jake initially deposit if he earned $240 in interest over 10 years at 1.5%?

• $1600

• $2400

• $1500

• $1000

What is the interest rate for a loan of $4000 if the interest paid annually is $142.56?

• 3.564%

• 3.6%

• 2.5%

• 1.6%