SIMPLE

INTEREST

Since this section involves what can happen to your money, it should be of INTEREST to you!

Mathematics Website

WEEK 4 – STARTER 2

STARTER

To be able to calculate simple interest.

OBJECTIVE

SIMPLE INTEREST

KEY WORD

Annual interest rate

IMPLE INTEREST FORMULA

Interest paid

Principal(Amount of money invested or borrowed)

Time (in years)

100I = PRT

If you invested $200.00 in an account that paid simple interest, find how long you’d need to leave it in at 4% interest to make $10.00.

10 = (200)(0.04)T

1.25 yrs = TTypically interest is NOT simple interest but is paid semi-annually (twice a year), quarterly (4 times per year), monthly (12 times per year), or even daily (365 times per year).

enter in formula as a decimal I = PRT

100

The teacher goes through selected

examples on the following pages of

the iBook:

Pages 84 - 88

Examples from the iBook

Struggling students watch video on

simple interest – page 87 of the

iBook. Meanwhile, advanced

students can start with classwork 1.

Watch videos from the iBook

G11 Maths Website

WEEK 4 – CLASSWORK 1 SIMPLE

INTEREST

Show an organized solution on your maths

notebook.

CLASS WORK 1SIMPLE INTEREST

Pair Work

G11 Maths Website, “Useful link” folder

Students answer an online worksheet:

http://studymaths.co.uk/workout.php?workoutI

D=53

Show an organized solution on your maths

notebook.

CLASS WORK 2COMPOUND INTEREST

Individual Activity

G11 Maths iBook

1.Page 88, #’s 6, 7, 8, 9, 10

Show an organized solution on your maths

notebook.

HOMEWORK

Maths iBook

Page 88, #’s 1, 2, 3, 4, and 5

Show an organized solution on your maths

notebook.

EXTENSION ACTIVITY

1. What is simple interest?

2. Share one or two things you have

learned today.

PLENARY

THANK YOU!