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FUHRMS: Simple Interest, T = Time In Years
Test Description: When calculating simple interest using the formula I=Prt, the t represents time in years. To calculate t, take the number of months and divide by 12.
Instructions: Answer all questions to get your test result.
1) What is t if you save money for 12 months?
A
1.5
B
2.5
C
1
D
2
2) What is t if you save money for 18 months?
A
1.5
B
1
C
2
D
2.5
3) What is t if you save money for 4 years?
A
3
B
4.5
C
2
D
4
4) What is t if you save money for 9 months?
A
1.75
B
.50
C
.75
D
1.5
5) What is t if you save money for 30 months?
A
3
B
1.5
C
2.5
D
2
6) What is t if you save money for 21 months?
A
1.75
B
1.5
C
1.25
D
1
7) What is t if you save money for 4 years and 6 months?
A
54
B
5
C
4
D
4.5
8) What is t if you save money for 15 months?
A
1.25
B
2.25
C
2.5
D
1.5
9) What is t if you save money for 54 months?
A
5.5
B
5
C
4.5
D
4
10) What is t if you save money for 3 months?
A
.75
B
1
C
.25
D
.5
*select an answer for all questions
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