H.5

Simple Interest

Find simple interest and the account balance using I = Prt.

Level

Medium

Level

Problems

Show exampleInclude answer key

@page { size: letter; margin: 0; } @media print { .ws-page + .ws-page { break-before: page; } } Daniel Math Academy \cdot Grade 6 Math Simple Interest Skill H.5 \cdot Consumer math \cdot ★★☆ Medium Name Date Score / 4 Scan for answers Use I = Prt to answer each question. Example I = P r t = 500 \times 0.04 \times 3 = 60 Think: Simple interest is principal \times rate \times time: $ 500 at 4% for 3 years earns $ 60.00 . 1 You put $ 800.00 in a savings account that earns 4% simple interest each year. How much money will be in the account after 3 years? 2 You put $ 800.00 in a savings account that earns 6% simple interest each year. How much money will be in the account after 4 years? 3 You put $ 400.00 in a savings account that earns 4% simple interest each year. How much money will be in the account after 6 years? 4 You put $ 750.00 in a savings account that earns 3.5% simple interest each year. How much money will be in the account after 4 years? Daniel Math Academy \cdot danielmath.com Worksheet # mp5rfh4 \cdot Page 1 / 2 Daniel Math Academy \cdot Grade 6 Math Answer Key H.5 Simple Interest \cdot ★★☆ Medium 1 $ 896.00 2 $ 992.00 3 $ 496.00 4 $ 855.00 Daniel Math Academy \cdot danielmath.com Worksheet # mp5rfh4 \cdot Answer Key \cdot Page 2 / 2

H. Consumer math5 skills