1. Rounding 3 Round to the nearest whole number 3.46
Round to the nearest cent $
Round to the nearest tenth
Round to the nearest dollar $14.13
Round to the nearest hundredth
Round to the nearest thousandth
$19.94
258
$14.00
0.99
17.630

2. Lesson 8-6 Solve problems involving simple interest.

3. Simple Interest What is interest?? Words to know:
Simple Interest- the amount paid or earned for the use of money.
Principal- the amount of money deposited or invested.

4. Simple Interest
To find simple interest we use the following formula:
I = prt
The amount of time the money is invested or borrowed (years)
Interest
Interest rate written as a decimal
Principal

5. Find the interest earned
Ray has $750 in a savings account that pays 3% simple interest. How much interest will he earn in 4 years?
I = 750 x 3% x 4
Ray will earn $90 interest in 4 years.

6. Find the interest paid I = 1,200 x 8% x 2
Cory borrows $1,200 from the bank for a riding lawn mower. The interest rate is 8% per year. How much simple interest will he pay if he takes 2 years to repay the loan?
I = 1,200 x 8% x 2
Cory will pay $192 interest in 2 years.

7. Find the interest earned.
Kate’s bank offered 4% simple interest on her deposit. She has $1,500 to invest. How much interest will she earn in 30 months?
30 months is how many years? 30/12 = 2.5 years
I = 1,500 x 4% x 2.5
Kate will earn $150 interest in 30 months.

8. Find the total paid 9 months is how many years? 9/12 = .75 years
Henry charged $600 TV on his credit card with an interest rate of 21%. How much money will he owe after 9 months.
9 months is how many years? 9/12 = .75 years
I = 600 x 21% x .75
= $94.50 interest
Amount paid $600 + $94.50 = $694.50

9. Try these
Allison charged a $30 handbag on her credit card with an interest rate of 8%. How much money would she pay after 6 months?
Marcus has $1,800 dollars from his summer job to invest. If he invest in a savings for 3 years at a rate of 5.25%. How much interest will he earn?
$31.20
$283.50

10. Practice / Homework Complete page 584 lesson 8-6 # 2- 12 evens
Homework: Lesson 8-6 # 1-16 all