G.5

Simple Interest

Q3 · Feb–Apr

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 7 Math Simple Interest Skill G.5 \cdot Consumer math \cdot ★★☆ Medium \cdot Quarter 3 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 $ 400.00 in a savings account that earns 3.5% simple interest each year. How much money will be in the account after 3 years? 2 You put $ 250.00 in a savings account that earns 2% simple interest each year. How much money will be in the account after 4 years? 3 You put $ 550.00 in a savings account that earns 3.5% simple interest each year. How much money will be in the account after 2 years? 4 You put $ 200.00 in a savings account that earns 4% simple interest each year. How much money will be in the account after 4 years? Daniel Math Academy \cdot danielmath.com Worksheet # 7r2rk75 \cdot Page 1 / 2 Daniel Math Academy \cdot Grade 7 Math Answer Key G.5 Simple Interest \cdot ★★☆ Medium 1 $ 442.00 2 $ 270.00 3 $ 588.50 4 $ 232.00 Daniel Math Academy \cdot danielmath.com Worksheet # 7r2rk75 \cdot Answer Key \cdot Page 2 / 2

G. Consumer math7 skills