1. what is 3% of 70? 2. what is 30% of 70? 3. what …...21. 25 year mortgage 22. monthly payments:...
TRANSCRIPT
5.9simpleinterest.notebook
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April 22, 2014
Bell Work
1. What is 3% of 70?
2. What is 30% of 70?
3. What is 7% of 30?
4. What is 70% of 30?
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April 22, 2014
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April 22, 2014
Simple Interest
I = p . r . tSimple Interest
principle
rate (% as decimal)
time in years
Months 12
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April 22, 2014
1 In the formula I = Prt, P stands for...
A Perimeter
B PutIn
C Principle
D Polygon
Multiple choice
C
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April 22, 2014
2 What number should be used to calculate a 4.5% interest rate?
A 45
B 4.5
C 0.45
D 0.045
Multiple choice
D
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April 22, 2014
How much interest is earned on $1,500 deposited for 6 years at 5% interest?
3 Numeric
$450
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April 22, 2014
How much interest is earned on $6,000 deposited for 5 years at 7.5% interest?
4 Numeric
$2,250
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April 22, 2014
For how many years would $2,500 have to be invested at 6% to earn $1050 in interest?
5 Numeric
7years
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April 22, 2014
For how many years would $1,700 have to be invested at 3% to earn $510 in interest?
6 Numeric
10 years
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April 22, 2014
At what interest rate would $3,600 have to be invested in order to double in 10 years?
7 Numeric
10%
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April 22, 2014
What interest rate would be necessary for a savings account to increase from $7,500 to $10,800 in 8 years?
8 Numeric
18%
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April 22, 2014
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April 22, 2014
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April 22, 2014
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April 22, 2014
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April 22, 2014
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April 22, 2014
Your credit card charges 20% interest. How much will you pay after the interest is charged?
Interest = P x R x T
$1001.48$200.30 interest = $1,201.78
$525.97$105.19 interest = $631.16 total
$78.33$15.67 interest = $94 total
$59.25$11.85 interest = $71.10 total
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April 22, 2014
Calculate the simple interest!
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April 22, 2014
Homework pg 292 #'s 16, 1522, 25
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April 22, 2014
Homework pg 292293 #'s 16, 1522, 25
1. $112.50
2. $18.40
3. $729.30
4. $421.38
5. C
6. 5.25%
15. 45%
16. 10%
17. $23,250
18. $187.50
19. $1,029.60
20. $482.13
21. 25 year mortgage
22. Monthly payments: $326.39; interest $33,750