Interest Rate
Jenna borrows $8,000 for college at a yearly simple interest rate of 6%. She takes 15 years to pay off the loan and interest. How much interest does she pay? What is the total amount she pays? Remember to show your work.
$7,200 in interest and $15,200 total.
A chair’s regular price $349. It is clearance for 30% off, and a customer uses a 15% off coupon after that. What is the final cost of the chair before sales tax?
$207.66
Which state was the first to ratify the Constitution?
Delaware
Mike saves $2,000 at a yearly simple interest rate of 2%. He earns $280 in interest. For how many years did he save this money? Remember to show your work.
7 years
Damon buys lumber worth $562. He gets a 20% contractor’s discount. The sales tax is 6%. His credit card gives him 2% off. How much does he pay?
$467.04
Who is often called the Father of the Constitution?
James Madison
Elliot borrows $900 to buy an appliance at a yearly simple interest rate. He takes 3 years to pay off the loan and interest, He pays $135 in interest. What is the interest rate? Remember to show your work.
5%
A calculator is listed for $110 and is on clearance for 35% off. Sales tax is 7%. What is the cost of the calculator?
$76.51
How many of the 13 states had to ratify the Constitution before it went into effect?
9
A new business borrows $320,000 at a yearly simple interest rate of 7%. The total amount the company repays for the loan and interest is $678,000. How long did it take to pay off the loan?
16 years
John goes to a restaurant and has a bill of 32.57, He uses a 10% coupon on the cost of the meal. The tax is 8%. He leaves a tip of 18% on the amount before the coupon or tax is applied. How much does he spend?
$37.52
When did the Constitutional Convention first convene?
1787
Grace borrows $135,000 at a yearly simple interest rate of 4.5%. How much less would she pay if she pays the loan off in 15 years rather than in 30 years?
$91,125 less
What are the three branches of government that were created by the Constitution?
Executive, Legislative, and Judicial.