8-6 Simple Interest Indicator  N8 Develop and analyze algorithms for computing with percents and demonstrate fluency in use. Pages 358-360.

Slides:

Advertisements

Similar presentations

Rounding 3 Round to the nearest whole number 3.46

Advertisements

Simple and Compound Interest

Simple Interest. is money added onto the original amount saved (earned) or borrowed (charged). Simple Interest.

Simple Interest I =Prt I = Interest P = Principle r = rate t = time

Sullivan PreCalculus Section 4.7 Compound Interest

Simple Interest Day 2 Formula I = PRT.

Simple Interest Math 8. Simple Interest Can be interest gained (earned) or interest paid Interest paid- costs you money * loans * credit cards Interest.

Simple Interest SWBAT find simple interest ; find the total amount earned or due; find the rate of interest; find the time that principal is left on deposit.

Simple Interest and Compound Interest

Simple Interest Essential Skill: Explicitly Assess Information and Draw Conclusions.

Simple Interest 7th Grade Math.

Simple Interest Formula I = PRT.

Simple Interest Formula I = PRT.

Warm Up 1. What is 35 increased by 8%? 37.8 Course More Applications of Percents.

Pre-Algebra 8-7 More Applications of Percents Warm-up Pink handout #11-14 Turn in pink handout.

Notes 31 Simple Interest 6-6.

Transparency 6 Click the mouse button or press the Space Bar to display the answers.

7-8 simple and compound interest

Simple and Compound Interest

SIMPLE INTEREST Interest is the amount paid for the use of money.

3-3 Example 1 Find the simple interest earned on an investment of $500 at 7.5% for 6 months. 1. Write the simple interest formula. I = prt Lesson 3-3 Example.

Annuity Payments LG: I can calculate the payment of an annuity in present value and future value situations.

Slide 1 Copyright © 2015, 2011, 2008 Pearson Education, Inc. Percent and Problem Solving: Interest Section7.6.

2. What is the percent of decrease from 144 to 120?

Interest on Loans Section 6.8. Objectives Calculate simple interest Calculate compound interest Solve applications related to credit card payments.

Interest MATH 102 Contemporary Math S. Rook. Overview Section 9.2 in the textbook: – Simple interest – Compound interest.

Lesson 7.8: Simple Interest

Learning Objectives for Simple Interest

1 Simple Interest By: Dilshad Akrayee. 2 Definition  Simple interest is interest that is computed on the original sum.  Formula: Principal amount *

Simple Interest.

Lesson 5-8 Simple Interest.

th grade math Using the Interest Formula. Objective To use the simple interest formula to calculate interest and find the total amount earned or.

Simple Interest Compound Interest. When we open a savings account, we are actually lending money to the bank or credit union. The bank or credit union.

Using Percents Part 2.

5 Minute Check Find the price to the nearest cent. Complete on the back of your homework. 1. $60; with a 60% discount 2. $40; with 7% tax 3. $199; with.

Simple & Compound Interest

Aim: Money Matters – Effective Rate & APR Course: Math Literacy Aim: How does money matter? The lowdown on interest rates. Do Now: Annie deposits $1000.

Interest (ing) Notes How to Calculate Simple Interest 2/11/10 Pre-Algebra.

Lesson 8-6 Pages Simple Interest Lesson Check 8-5.

Transparency 6 Click the mouse button or press the Space Bar to display the answers.

3.1 Simple Interest Definition: I = Prt Definition: I = Prt I = interest earned I = interest earned P = principal ( amount invested) P = principal ( amount.

Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall. Chapter 5 Percents.

Lesson 7.6 Concept: How to find simple interest Guidelines: When you compute simple interest for a time that is less than 1year, write the time as a fraction.

Notes Over 7 – 7 Solve for the indicated variable.

Splash Screen. Lesson Menu Five-Minute Check (over Lesson 7–7) Main Idea and Vocabulary Example 1:Find Interest Earned Example 2:Find Interest Earned.

7-7 Simple and Compound Interest. Definitions Left side Principal Interest Interest rate Simple interest Right side When you first deposit money Money.

Simple Interest. Simple Interest – * the amount of money you must pay back for borrowing money from a bank or on a credit card or * the amount of money.

Simple Interest Formula I = PRT. I = interest earned (amount of money the bank pays you) P = Principle amount invested or borrowed. R = Interest Rate.

Simple Interest 6.7. Simple Interest The money earned on a savings account or an investment. It can also be money you par for borrowing money.

Simple and Compound Interest Video: Simple/ Compound InterestSimple/ Compound Interest Video: A Penny a DayA Penny a Day.

Pre-Algebra 8-7 More Applications of Percents Learn to compute simple interest.

Simple Interest Formula I = PRT. I = PRT I = interest earned (amount of money the bank pays you) P = Principle amount invested or borrowed. R = Interest.

Simple Interest Formula I = PRT.

6-3 (E)Simple Interest Formula I = PRT. I = interest earned (amount of money the bank pays you) P = Principle amount invested or borrowed. R = Interest.

Simple and Compound Interest Simple Interest I = Prt Compound Interest A = P(1 + r)

7.7 Simple and Compound Interest. Interest You EARN interest when you put $ into a savings account. You PAY interest when you borrow money...bank, loan,

Challenging… Interest Rates and Savings By: Nicole Sandal.

Simple and Compound Interest Unit 4 - Investing. Determining Simple Interest I = p * r * t Interest = Principle X Rate X Time ( in years)

8.1 Simple Interest. Key Terms Principal: A sum of money that is borrowed or invested. Principal: A sum of money that is borrowed or invested. Simple.

Applications of Percent

Warm-up What is 35 increased by 8%? What is the percent of decrease from 144 to 120? What is 1500 decreased by 75%? What is the percent of increase from.

Simple Interest. is money added onto the original amount saved (earned) or borrowed (charged). Simple Interest: Video below!

Simple and Compound Interest

Rounding 3 Round to the nearest whole number 3.46

I = PRT I = P x R x T nterest rincipal ate ime Simple Interest

Lesson 8-6 Solve problems involving simple interest.

Rounding 3 Round to the nearest whole number 3.46

Simple Interest 6.7.

Simple Interest Formula I = PRT.

More Applications of Percents

Presentation transcript:

8-6 Simple Interest Indicator  N8 Develop and analyze algorithms for computing with percents and demonstrate fluency in use. Pages

Why do people deposit money into banks? What does a savings account and a loan from a bank have in common?

Simple interest- the amount of money paid or earned for the use of money. –the amount of money a bank pays you for you loaning them your money. –or the amount of money you pay a creditor for borrowing money. Simple Interest formula  I = prt –I = simple interest –p = principal (the money you invest or p ut-in) –r = rate (the annual interest rate- percent written as a decimal) –t = time (the amount of time the money is invested-in years) 8-6 Simple Interest

Find the simple interest earned… Brandon found a bank offering a certificate of deposit that pays 4% simple interest. He has $1,500 to invest. How much interest will he earn in 3 years? 30 months? I = prt I = 1500(0.04)(3) I = months? I = prt = 1500(0.04) I = 150 Write the interest formula. Plug-in the values for the variables. Solve. Write the interest formula. Plug-in the values for the variables. Convert the time to years! (2.5) 30 ÷ 12 = Solve. Write a sentence. Brandon will earn $ in interest in 3 years. In 30 months, he will earn $ in interest.

Find the simple interest paid… Laura borrowed $2000 from her credit union to buy a computer. The interest rate is 9% per year. How much interest will she pay if it takes her 8 months to repay the loan? Including interest, how much will she pay for the computer? Write the interest formula. I = prt Plug-in the values for the variables. I = 2000(9%)(8 mos) Convert the % to decimal! Convert the time to years! I = 2000(0.09)(0.6) Solve. I = 120 Write a sentence. Laura will pay $ in interest in 8 months. In total, Laura will repay $2, for her computer.

Find total paid on a credit card… Alma charged a $30.00 handbag on her credit card with an interest rate of 17%. If she has no other charges on the credit card, how much money will she owe after 6 months? Write the interest formula. I = prt Plug-in the values for the variables. I = 30(17%)(6 mos) Convert the % to decimal! Convert the time to years! I = 30(0.17)(0.5) Solve. I = 2.55 Write a sentence. In 6 months, Alma will pay $32.55 for the handbag.

Homework Pg. 360 #8-28 even only