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Math Problems
Grade 7
Simple interest
Kira has
$
500
\$ 500
$500
in an account that earns
15
%
15 \%
15%
interest compounded annually.
\newline
To the nearest cent, how much interest will she earn in
3
3
3
years?
\newline
Use the formula
B
=
p
(
1
+
r
)
t
B=p(1+r)^{t}
B
=
p
(
1
+
r
)
t
, where
B
B
B
is the balance (final amount),
p
p
p
is the principal (starting amount),
r
r
r
is the interest rate expressed as a decimal, and
t
t
t
is the time in years.
\newline
$
\$
$
□
\square
□
\newline
Submit
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Nick has
₹
80
,
000
\text{₹} 80,000
₹
80
,
000
in a savings account that earns
6
%
6\%
6%
interest per year. The interest is not compounded. How much interest will he earn in
1
1
1
year? Use the formula
i
=
p
r
t
i = prt
i
=
p
r
t
, where
i
i
i
is the interest earned,
p
p
p
is the principal (starting amount),
r
r
r
is the interest rate expressed as a decimal, and
t
t
t
is the time in years.
Get tutor help
Nick has
₹
80
,
000
\text{₹} 80,000
₹
80
,
000
in a savings account that earns
6
%
6\%
6%
interest per year. The interest is not compounded. How much interest will he earn in
1
1
1
year? Use the formula
i
=
p
r
t
i = prt
i
=
p
r
t
, where
i
i
i
is the interest earned,
p
p
p
is the principal (starting amount),
r
r
r
is the interest rate expressed as a decimal, and
t
t
t
is the time in years.
Get tutor help