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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
2
B
1.5
C
1
D
2.5
2) What is t if you save money for 18 months?
A
1.5
B
2.5
C
2
D
1
3) What is t if you save money for 4 years?
A
4
B
2
C
4.5
D
3
4) What is t if you save money for 9 months?
A
1.5
B
1.75
C
.75
D
.50
5) What is t if you save money for 30 months?
A
1.5
B
2.5
C
2
D
3
6) What is t if you save money for 21 months?
A
1.25
B
1.5
C
1.75
D
1
7) What is t if you save money for 4 years and 6 months?
A
4.5
B
5
C
54
D
4
8) What is t if you save money for 15 months?
A
2.25
B
1.5
C
1.25
D
2.5
9) What is t if you save money for 54 months?
A
4.5
B
4
C
5
D
5.5
10) What is t if you save money for 3 months?
A
.25
B
.75
C
1
D
.5
*select an answer for all questions
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