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5.06 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
Approx 2 minutes
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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.

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.

The simple interest on an investment of $\$3600$$3600 over $2$2 years is $\$504.00$$504.00.

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

Enter each line of working as an equation.

Outcomes

A.SSE.A.1'

Interpret expressions that represent a quantity in terms of its context. 'Limited to linear expressions and exponential expressions with integer exponents.

A.SSE.A.1.A'

Interpret parts of an expression, such as terms, factors, and coefficients. 'Limited to linear expressions and exponential expressions with integer exponents

F.BF.A.1'

Write a function that describes a relationship between two quantities. 'Linear and exponential (integer inputs)

F.BF.A.1.A'

Determine an explicit expression, a recursive process, or steps for calculation from a context. 'Linear and exponential (integer inputs)

F.LE.A.1

Distinguish between situations that can be modeled with linear functions and with exponential functions.

F.LE.A.1.B

Recognize situations in which one quantity changes at a constant rate per unit interval relative to another.

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