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6.07 Simple interest

Interactive practice questions

If $\$16716$$16716 of simple interest was earned in $7$7 years, how much interest was earned each:

a

year?

b

month?

Easy
1min

Calculate the simple interest earned on an investment of $\$1050$$1050 at a semiannual rate of $1.1%$1.1% for $9$9 years.

Write your answer to the nearest cent.

Medium
2min

Calculate the simple interest earned on an investment of $\$7000$$7000 at $1.8%$1.8% per quarter for $9$9 years.

Give your answer to the nearest cent.

Medium
1min

The simple interest on an investment of $\$4800$$4800 over $20$20 months is $\$760.00$$760.00.

If the annual interest rate is $r$r, find $r$r as a percentage correct to one decimal place.

Medium
1min
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Outcomes

7.RP.3

Use proportional relationships to solve multi-step ratio, rate, and percent problems. Examples: simple interest, tax, price increases and discounts, gratuities and commissions, fees, percent increase and decrease, percent error.

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