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7.RP.3b Day 4 first day Objective: I can find simple interest.
Journal Sarah estimated she would need 5 pillows but she actually used 8. What is her percent error?
Review Ted guessed he would spend $63 at the store but actually spent $89. What was his percent error?
Quiz Angelina estimated she would buy $56 worth of groceries but she actually spent $45. What was her percent error?
Grade Homework - Evens Pg #2: $98.5 Pg #2: $1, #6: Sport City Pg #10: In Class Pg #16: $26.80 #18: $4.90
Notes When you put money in the bank you earn interest. Interest is money you are paid when you invest or money you pay when you borrow from someone else.
Notes Principal is the amount you borrowed or invested. We use the letter “P” for principal. John borrowed $2000 to buy a car.
Notes The interest rate is the percent that you pay because you borrowed the money. John paid a 3% interest rate on his car. We use “r” for rate.
Notes Time is how long you borrowed or invested your money. Time is in years. John is going to make payments on his car for 4 years. We use “t” for time.
Notes John borrowed $2000 at a 3% interest rate for 4 years.
Notes Interest = principal * rate * time I = prt
Notes John borrowed $2000 at a 3% interest rate for 4 years. I = prt
Notes Mrs. Ramirez is investing $400 in a savings account at a simple interest rate of 2%. She plans on investing the money for 6 months. How much interest will she make?
Notes Arnold puts $580 into a savings account. The account pays 3% interest. How much will he earn in 5 years?
Notes Jenny puts $1,560 in a savings account. The account will pay 2.5% simple interest. How much interest will she earn in 3 years?
Notes Mrs. Hanover borrowed $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?
Notes Howard charged $425 to his credit card. If it has an interest rate of 9.9%, how much will he pay after one month?
Homework Lesson 8 Skills Practice
Rounding Round to the nearest whole number 3.46 Round to the nearest whole number 3.46 Round to the nearest cent $ Round to the nearest cent $
Section 8.2 Simple Interest Math in Our World. Learning Objectives Compute simple interest and future value. Compute principal, rate, or time. Compute.
Evaluating Algebraic Expressions 6-7 Applying Simple and Compound Interest Warm Up Warm Up California Standards California Standards Lesson Presentation.
Ex. 1) A color laser printer marked originally priced at $699 goes on sale for 30% off. If Chris has already saved up $325, how much more money does he.
Simple Interest examples: If you put $600 in a CD at a bank for 6 months at a simple annual rate of 4.9%, how much interest will you earn? How much money.
6-6 Simple Interest Course 2. Learn to solve problems involving simple interest. Course Simple Interest.
Of. and a to the in is you that it at be.
Unit F: Importance of Investment Lesson 1: Understanding the Concept of Borrowing Money 1.
Planning Ahead Saving money is an important part of financial freedom and responsibility. What are the advantages of having a savings account?
High Frequency Words List A Group 1. the of and.
Copyright © Cengage Learning. All rights reserved. 2 The Mathematics of Finance.
COMPOUND INTEREST COMPOUND INTEREST SECTION 4.7. TERMINOLOGY Principal:Total amount borrowed. Interest:Money paid for the use of money. Rate of Interest:
Whiteboardmaths.com © 2007 All rights reserved
The. of and a to in is you that it he was.
Holt Algebra Application of Percents 2-9 Applications of Percents Holt Algebra 1 Lesson Quiz Lesson Quiz Lesson Presentation Lesson Presentation.
© Family Economics & Financial Education – Revised November 2004 – Saving Unit – Rule of 72 Funded by a grant from Take Charge America, Inc. to the Norton.
Budget. A financial plan drawn up for an individual, a family, a business or a government. It is usually for a period of a month or a year. Done right.
Discount, Sale Price Discount- how much money is SAVED from original price Original Price- the cost of the item before the discount is taken off Sale Price-
Applying Ratios, Rates, and Proportions : Percent Proportion, Sales Tax, Tip, Discount, and Simple Interest.
Lesson Menu Five-Minute Check (over Lesson 5–9) Main Idea and Vocabulary Example 1:Find Simple Interest Example 2:Test Example: Find the Total Amount Example.
Review Game Show Fraction and %s Finding Percents.
Financial Education and Career Planning Review Quiz Unit-4 Credit and Credit Cards.
6-7 Simple Interest Course 2 Warm Up Warm Up Problem of the Day Problem of the Day Lesson Presentation Lesson Presentation.
Planning for the Future How you spend and invest your money can have an impact on your lifestyle at a later time. What might you want to start saving for.
6-1 Copyright 2010 McGraw-Hill Australia Pty Ltd PowerPoint slides to accompany Croucher, Introductory Mathematics and Statistics, 5e Chapter 6 Compound.
The. of and a to in is you that it he for.
Talk Banks, Talk Maths Why do you keep money in a bank? How many of you have a bank account? How did you choose which bank and which account? Can you name.
1 Learning Objectives for Section 3.2 After this lecture, you should be able to Compute compound interest. Compute the annual percentage yield of a compound.
SIMPLE AND COMPOUND INTEREST Since this section involves what can happen to your money, it should be of INTEREST to you!
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