Math Practice 101
Homework Explained - Math Practice 101

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Grade 7 McGraw Hill Glencoe - Answer Keys
Chapter 2: Percents; Lesson 8: Financial Literacy: Simple Interest


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  • Question 10 (request help)

    Financial Literacy The table shows interest owed for a home improvement loan based on how long it takes to pay off the loan.

    a. What is the simple interest owed on $900 for 9 months?
  • \(\large I = $\)   
  • Question 10 (request help)

    b. Find the simple interest owed on $2,500 for 18 months.
  • \(\large I = $\)   
  • Question 10 (request help)

    c. Find the simple interest owed on $5,600 for 6 months.
  • \(\large I = $\)   

H.O.T. Problems Higher Order Thinking

  • Question 11 (request help)

    Justify Conclusions Suppose you earn 3% on a $1,200 deposit for 5 years. Explain how the simple interest is affected if the rate is increased by 1%. What  happens if the time is increased by 1 year?
  • Question 12 (request help)

    Persevere with Problems Dustin bought a $2,000 computer with a credit card. The minimum payment each month is $35. Each month 1% of the unpaid balance is added to the amount he owes.

    a. If Dustin pays only $35 the first month, what will he owe the second month?
  • \(\large$ \)   
  • Question 12 (request help)

    b. If Dustin makes the minimum payment, what will he owe the third month?
  • \(\large$ \)   
  • Question 13 (request help)

    Reason Inductively Compare the two investments below. Which will have a greater account balance in the given time periods? Explain.
  •    

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