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Loan and Simple Interest Problem Solving Quiz

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Loan and Simple Interest Problem Solving Quiz

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Questions and Answers

What is the equation to represent the total amount Shauna will owe her parents?

The equation is: Total amount = $400 + ($400 * 0.04)

What percent of Martin's regular hourly rate will he earn during training?

Martin will earn 75% of his regular hourly rate during training.

What is the equation to represent how many blankets Debora will sew for n nieces?

The equation is: Number of blankets = 3 * n

How many blankets will Debora sew if she has 5 nieces?

Debora will sew 15 blankets if she has 5 nieces. Signup and view all the answers

What is the total amount of money Shauna will owe her parents?

The total amount of money Shauna will owe her parents is $416. Signup and view all the answers

Match the following parts of the problem with their descriptions:

Part A = Writing an equation to represent a situation Part B = Solving a problem using the given equation Debora's nieces = The variable that represents the number of nieces $400 = The amount of money Shauna borrowed from her parents Signup and view all the answers

Match the following characters with their corresponding actions in the problem:

Shauna = The person who borrowed money Debora = The person who will be sewing blankets Martin = The person who will be earning different hourly rates Parents = The people who loaned money to Shauna Signup and view all the answers

Match the following variables with their meanings in the problem:

b = The number of blankets Debora will sew n = The number of nieces Debora has $20 = Martin's regular hourly rate $15 = Martin's hourly rate during training Signup and view all the answers

Match the following rates with their corresponding situations:

4% = The interest rate Shauna agreed to pay her parents $20 = The amount Martin will earn per hour at his new job $15 = The amount Martin will earn per hour during training 3 = The number of blankets Debora will sew for each of her nieces Signup and view all the answers

Match the following terms with their definitions in the problem:

Simple interest = The interest calculated only on the initial amount borrowed Regular hourly rate = The amount of money Martin will earn per hour at his new job Total amount = The sum of the initial amount and the interest Equation = A mathematical statement that shows two expressions are equal Signup and view all the answers