M7_0710_Simple_interest.notebook 1 February 22, 2016 Feb 94:17 PM % % % % % % % % % % % % % % % Topic: Percents Aim: How can you use a formula to find simple interest? Try Now: Your aunt gave you a savings bond with an initial value of $50. This savings bond receives 4% simple interest annually. How much money will you receive if you redeem the bond after one year? after 5 years? Feb 94:17 PM % % % % % % % % % % % % % % % % % % % % % % % % % % % % % Topic: Percents Aim: How can you use a formula to find simple interest? Can we create a formula to calculate interest for any amount of years? What information do we need to calculate interest? Interest = What operations did we perform to calculate the interest?
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M7 0710 Simple interest.notebook - sewanhakaschools.org · M7_0710_Simple_interest ... A $1500 bond earns 3% simple annual interest. ... You are short on cash and need to borrow some
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M7_0710_Simple_interest.notebook
1
February 22, 2016
Feb 94:17 PM
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Topic: PercentsAim: How can you use a formula to find simple interest?
Try Now: Your aunt gave you a savings bond with an initial value of $50. This savings bond receives 4% simple interest annually. How much money will you receive if you redeem the bond after one year? after 5 years?
Topic: PercentsAim: How can you use a formula to find simple interest?
I = Prt#2You are short on cash and need to borrow some money from your friend. He lends you the money on the condition that you pay him back with interest. If you borrow $30 and he charges you 7% annual interest, how much will you have to repay him in 6 months?
Topic: PercentsAim: How can you use a formula to find simple interest?
I = Prt#3
I = PrtI = 500(.098)(9)I = $441
A $500 savings bond earns 9.8% simple annual interest. Amy calculates how much interest she will earn after 9 months, as shown below. Describe and correct the error Amy made.
Topic: PercentsAim: How can you use a formula to find simple interest?
Luis is taking out a car loan for $5,000. He plans on paying off the car loan in 2 years. At the end of two years, Luis will have paid $300 in interest. What is the simple interest rate on the car loan?