1. Slide 11 - 1 Copyright © 2009 Pearson Education, Inc. AND Active Learning Lecture Slides For use with Classroom Response Systems Chapter 11 Consumer Mathematics

2. Slide 11 - 2 Copyright © 2009 Pearson Education, Inc. Find the missing quantity by using the simple interest formula. i = ?, p = $5200, r = 6.5% per year, t = 6 months a.$16.90 b.$169.00 c.$1690.00 d.$2028.00

3. Slide 11 - 3 Copyright © 2009 Pearson Education, Inc. Find the missing quantity by using the simple interest formula. i = ?, p = $5200, r = 6.5% per year, t = 6 months a.$16.90 b.$169.00 c.$1690.00 d.$2028.00

4. Slide 11 - 4 Copyright © 2009 Pearson Education, Inc. Find the missing quantity by using the simple interest formula. i = $720, p = $3000, r = 6% per year, t = ? a.0.04 years b.0.4 years c.4 years d.40 years

5. Slide 11 - 5 Copyright © 2009 Pearson Education, Inc. Find the missing quantity by using the simple interest formula. i = $720, p = $3000, r = 6% per year, t = ? a.0.04 years b.0.4 years c.4 years d.40 years

6. Slide 11 - 6 Copyright © 2009 Pearson Education, Inc. Ella borrowed $6300 from a bank for 24 months at a rate of 4.9% simple interest. How much interest did she pay for the use of the money? a.$617.40 b.$61.74 c.$6174.00 d.$7408.80

7. Slide 11 - 7 Copyright © 2009 Pearson Education, Inc. Ella borrowed $6300 from a bank for 24 months at a rate of 4.9% simple interest. How much interest did she pay for the use of the money? a.$617.40 b.$61.74 c.$6174.00 d.$7408.80

8. Slide 11 - 8 Copyright © 2009 Pearson Education, Inc. Ella borrowed $6300 from a bank for 24 months at a rate of 4.9% simple interest. What is the amount she repaid to the bank on the due date of the loan? a.$6300.00 b.$6361.74 c.$6379.14 d.$6917.40

9. Slide 11 - 9 Copyright © 2009 Pearson Education, Inc. Ella borrowed $6300 from a bank for 24 months at a rate of 4.9% simple interest. What is the amount she repaid to the bank on the due date of the loan? a.$6300.00 b.$6361.74 c.$6379.14 d.$6917.40

10. Slide 11 - 10 Copyright © 2009 Pearson Education, Inc. Kyle received a loan of $2500 with interest at a 4.5% for 90 days on July 1. Kyle made a payment of $900 on August 10. How much did he owe the bank on the date of maturity? a.$2612.50 b.$1712.50 c.$1622.58 d.$2522.58

11. Slide 11 - 11 Copyright © 2009 Pearson Education, Inc. Kyle received a loan of $2500 with interest at a 4.5% for 90 days on July 1. Kyle made a payment of $900 on August 10. How much did he owe the bank on the date of maturity? a.$2612.50 b.$1712.50 c.$1622.58 d.$2522.58

12. Slide 11 - 12 Copyright © 2009 Pearson Education, Inc. Kyle received a loan of $2500 with interest at a 4.5% for 90 days on July 1. Kyle made a payment of $900 on August 10. What total amount of interest did he pay on the loan? a.$1125.00 b.$112.50 c.$22.58 d.$2.26

13. Slide 11 - 13 Copyright © 2009 Pearson Education, Inc. Kyle received a loan of $2500 with interest at a 4.5% for 90 days on July 1. Kyle made a payment of $900 on August 10. What total amount of interest did he pay on the loan? a.$1125.00 b.$112.50 c.$22.58 d.$2.26