1. Bell Work
Get a piece of notebook paper and write 3 complete thought sentences using ALL of the following vocabulary.
Percent
Sales Tax
Tip
Discount

2. Simple Interest

3. Simple Interest

4. Simple Interest

5. Simple Interest
The formula I = prt can also be used to find the interest owed when you borrow money. In this case, p is the amount of money borrowed and t is the amount of time the money is borrowed.
SAVINGS Jenny has $1,560 in a savings account that pays 2.5% simple interest. How much interest will she earn in 3 years?

6. Simple Interest

7. Simple Interest – You Try
LOANS Mrs. Hanover borrows $1,400 at a rate of 5.5% per year. How much simple interest will she pay if it takes 8 months to repay the loan?
I = prt
I = $1,400 x x 8/12
I = $51.33

8. Simple Interest

9. Simple Interest – You Try
CREDIT CARDS An office manager charged $425 worth of office supplies on a credit card with an interest rate of 9.9%. How much money will he owe at the end of the month if he makes no other charges on the card and does not make a payment?
I = $425 x x 1/12
I = $3.51
$425 + $3.51 = $428.51

10. Exit Slip
1.) Mrs. Johnson has a savings account with $1,600, that earns 4% interest. At this rate, how much interest will she earn in:
a.) 5 months
b.) 2 years
2.) Bob charges $365 on his credit card with an interest rate of 11%. How much money will he owe at the end of the month if he makes no other charges and does not make a payment?