Slide 11 - 1Copyright © 2009 Pearson Education, Inc.

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Active Learning Lecture SlidesFor use with Classroom Response Systems

Chapter 11

Consumer Mathematics

Slide 11 - 2Copyright © 2009 Pearson Education, Inc.

Find the missing quantity by using the simple interest formula.i = ?, p = $5200, r = 6.5% per year, t = 6 months

a. $16.90

b. $169.00

c. $1690.00

d. $2028.00

Slide 11 - 3Copyright © 2009 Pearson Education, Inc.

Find the missing quantity by using the simple interest formula.i = ?, p = $5200, r = 6.5% per year, t = 6 months

a. $16.90

b. $169.00

c. $1690.00

d. $2028.00

Slide 11 - 4Copyright © 2009 Pearson Education, Inc.

Find the missing quantity by using the simple interest formula.i = $720, p = $3000, r = 6% per year, t = ?

a. 0.04 years

b. 0.4 years

c. 4 years

d. 40 years

Slide 11 - 5Copyright © 2009 Pearson Education, Inc.

Find the missing quantity by using the simple interest formula.i = $720, p = $3000, r = 6% per year, t = ?

a. 0.04 years

b. 0.4 years

c. 4 years

d. 40 years

Slide 11 - 6Copyright © 2009 Pearson Education, Inc.

Ella borrowed $6300 from a bank for 24 months at a rate of 4.9% simple interest. How much interest did she pay for the use of the money?

a. $617.40

b. $61.74

c. $6174.00

d. $7408.80

Slide 11 - 7Copyright © 2009 Pearson Education, Inc.

Ella borrowed $6300 from a bank for 24 months at a rate of 4.9% simple interest. How much interest did she pay for the use of the money?

a. $617.40

b. $61.74

c. $6174.00

d. $7408.80

Slide 11 - 8Copyright © 2009 Pearson Education, Inc.

Ella borrowed $6300 from a bank for 24 months at a rate of 4.9% simple interest. What is the amount she repaid to the bank on the due date of the loan?

a. $6300.00

b. $6361.74

c. $6379.14

d. $6917.40

Slide 11 - 9Copyright © 2009 Pearson Education, Inc.

Ella borrowed $6300 from a bank for 24 months at a rate of 4.9% simple interest. What is the amount she repaid to the bank on the due date of the loan?

a. $6300.00

b. $6361.74

c. $6379.14

d. $6917.40

Slide 11 - 10Copyright © 2009 Pearson Education, Inc.

Kyle received a loan of $2500 with interest at a 4.5% for 90 days on July 1. Kyle made a payment of $900 on August 10. How much did he owe the bank on the date of maturity?

a. $2612.50

b. $1712.50

c. $1622.58

d. $2522.58

Slide 11 - 11Copyright © 2009 Pearson Education, Inc.

Kyle received a loan of $2500 with interest at a 4.5% for 90 days on July 1. Kyle made a payment of $900 on August 10. How much did he owe the bank on the date of maturity?

a. $2612.50

b. $1712.50

c. $1622.58

d. $2522.58

Slide 11 - 12Copyright © 2009 Pearson Education, Inc.

Kyle received a loan of $2500 with interest at a 4.5% for 90 days on July 1. Kyle made a payment of $900 on August 10. What total amount of interest did he pay on the loan?

a. $1125.00

b. $112.50

c. $22.58

d. $2.26

Slide 11 - 13Copyright © 2009 Pearson Education, Inc.

Kyle received a loan of $2500 with interest at a 4.5% for 90 days on July 1. Kyle made a payment of $900 on August 10. What total amount of interest did he pay on the loan?

a. $1125.00

b. $112.50

c. $22.58

d. $2.26