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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 162 - #2: $98.5 Pg 163 - #2: $1,080.00 #6: Sport City Pg 164 - #10: In Class Pg 165 - #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
Lesson 5-8 Simple Interest. Definition Interest- the amount of money paid or earned for the use of money FORMULA FOR INTEREST - I = p r t I = interest.
5 Minute Check Find the price to the nearest cent. Complete on the back of your homework. 1. $60; with a 60% discount 2. $40; with 7% tax 3. $199; with.
8-6 Simple Interest Indicator N8 Develop and analyze algorithms for computing with percents and demonstrate fluency in use. Pages
When you borrow money from a bank, you pay interest for the use of the bank’s money. When you deposit money into a savings account, you are paid interest.
Simple Interest 7 th Grade Math. Vocabulary Interest – Money paid or earned for the use of money Principal – The amount of money borrowed or invested.
Pre-Algebra 8-7 More Applications of Percents Warm-up Pink handout #11-14 Turn in pink handout.
Simple and Compound Interest Simple Interest I = Prt Compound Interest A = P(1 + r)
Transparency 6 Click the mouse button or press the Space Bar to display the answers.
Lesson 8-6 Pages Simple Interest Lesson Check 8-5.
Simple Interest. Vocabulary (Section 5.8 in book ) The simple interest formula is I = prt where I = interest P = principal, or the amount of money.
Simple and Compound Interest Lesson 7.7 OBJ: To calculate interest earned and account balances.
Mr. Stasa – Willoughby-Eastlake City Schools © If you put $100 under your mattress for one year, how much will you have? $100 Will the $100 you.
Simple and Compound Interest 6.6. Interest The amount of money pair or earned for the use of money by a back or financial institution.
The amount of money either being borrowed or saved A %, that will need to be converted into a decimal The amount of time in years Simple Interest I =Prt.
PERCENT OF A NUMBER Lesson 1. Find the Percent of a Number To find the percent of a number, choose one of the methods 1. Write percent as a fraction and.
Simple Interest Essential Skill: Explicitly Assess Information and Draw Conclusions.
Interest on Loans Section 6.8. Objectives Calculate simple interest Calculate compound interest Solve applications related to credit card payments.
Simple Interest. Simple Interest – * the amount of money you must pay back for borrowing money from a bank or on a credit card or * the amount of money.
Warm Up 1. What is 35 increased by 8%? 37.8 Course More Applications of Percents.
Annuity Payments LG: I can calculate the payment of an annuity in present value and future value situations.
Pre-Algebra 8-7 More Applications of Percents Learn to compute simple interest.
Slide 1 Copyright © 2015, 2011, 2008 Pearson Education, Inc. Percent and Problem Solving: Interest Section7.6.
Warm-up What is 35 increased by 8%? What is the percent of decrease from 144 to 120? What is 1500 decreased by 75%? What is the percent of increase from.
Simple Interest 6-6. Vocabulary Interest- the amount of money charged for borrowing or using money. Simple interest- is money paid only on the principal.
Course More Applications of Percents Warm Up 1. What is 35 increased by 8%? 2. What is the percent of decrease from 144 to 120? 3. What is 1500 decreased.
Simple Interest. is money added onto the original amount saved (earned) or borrowed (charged). Simple Interest.
Splash Screen. Lesson Menu Five-Minute Check (over Lesson 7–7) Main Idea and Vocabulary Example 1:Find Interest Earned Example 2:Find Interest Earned.
Interest (ing) Notes How to Calculate Simple Interest 2/11/10 Pre-Algebra.
Simple Interest 21.6 Vocabulary Principal = the original amount of money that is saved or borrowed. Simple interest = a fixed percent of the principal.
Lesson 7.8: Simple Interest. If someone borrows money, what factors influence how much is paid back? Principal - How much was borrowed. Time - How long.
Homework: Part I 1. A bank is offering 2.5% simple interest on a savings account. If you deposit $5000, how much interest will you earn in one year? 2.
Simple Interest 6-6 Warm Up Warm Up Lesson Presentation Lesson Presentation Problem of the Day Problem of the Day Lesson Quizzes Lesson Quizzes.
Simple Interest Formula I = PRT. I = interest earned (amount of money the bank pays you) P = Principle amount invested or borrowed. R = Interest Rate.
Simple Interest Math 8. Simple Interest Can be interest gained (earned) or interest paid Interest paid- costs you money * loans * credit cards Interest.
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 $
Simple Interest Formula I = PRT. I = interest earned (amount of extra money the bank pays you or the amount of extra money that you owe) P = Principle.
Simple & Compound Interest. Objective: Develop and use ratios, proportions, and percents to solve problems Essential Question: How can I use percents.
Course More Applications of Percents 6-7 Simple Interest Course 3 Warm Up Warm Up Problem of the Day Problem of the Day Lesson Presentation Lesson.
7 th Grade Review Percents. Find the percent of change. 20 is increased to %
Simple Interest 6.7. Simple Interest The money earned on a savings account or an investment. It can also be money you par for borrowing money.
8-7 More Applications of Percents Course 3 Warm Up Warm Up Problem of the Day Problem of the Day Lesson Presentation Lesson Presentation.
Calculating Simple Interest 7.RP.A3. P.O.D. 1) Jackie bought a coat that was originally priced at $50 for 40% off. If the sales tax rate is 5%, what is.
PRE-ALGEBRA. Lesson 7-7 Warm-Up PRE-ALGEBRA Simple and Compound Interest (7-7) principal: the amount of money that is invested (put in to earn more)
Percentage problems are solved using proportions. › (100 - %) New 100 = Old › If you have a coupon that gives you a 15% discount on your groceries and.
Lesson 7.6 Concept: How to find simple interest Guidelines: When you compute simple interest for a time that is less than 1year, write the time as a fraction.
1 Simple Interest By: Dilshad Akrayee. 2 Definition Simple interest is interest that is computed on the original sum. Formula: Principal amount *
Pre-Algebra 8-7 More Applications of Percents Pre-Algebra HOMEWORK Page 427 #16-19 & Spiral Review (#20-24) ANSWERS.
Over Lesson 7–6 A.A B.B C.C D.D 5-Minute Check 4 A.10.7% increase B.10.6% increase C.10.5% increase D.10.2% increase Myra bought a new car. Her monthly.
8.1 Simple Interest. Key Terms Principal: A sum of money that is borrowed or invested. Principal: A sum of money that is borrowed or invested. Simple.
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