1. what is 3% of 70? 2. what is 30% of 70? 3. what …...21. 25 year mortgage 22. monthly payments:...

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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