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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 3:Real-World Example: Find the Interest Rate

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Main Idea/Vocabulary interest principal Solve problems involving simple interest.

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Example 1 Find Simple Interest Find the simple interest for $2,000 invested at 5.5% for 4 years. I = prtWrite the simple interest formula. I = 2000 ● 0.055 ● 4Replace p with 2,000, r with 0.055, and t with 4. I = 440The simple interest is $440. Answer: $440

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1.A 2.B 3.C 4.D Example 1 A.$160 B.$175 C.$215 D.$225 Find the simple interest for $1,500 invested at 5% for 3 years.

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Example 2 Find the total dollar amount in an account where $80 is invested at a simple annual interest rate of 6% for 6 months. A. $41.20B. $82.40C. $84.80D. $108.80 Find the Total Amount Read the Item You need to find the total amount in an account. Notice that the time is given in months. Six months is year.

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Example 2 I = 2.4Simplify. Answer: The amount in the account is $80 + $2.40 or $82.40. The answer is B. Find the Total Amount Solve the Item I = prtSimple interest formula

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1.A 2.B 3.C 4.D Example 2 A.$60.30 B.$61.20 C.$62.20 D.$62.30 Find the total amount of money in an account where $60 is invested at 8% for 3 months.

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Example 3 LOANS Gerardo borrowed $4,500 from his bank for home improvements. He will repay the loan by paying $120 a month for the next four years. Find the simple interest rate of the loan. Use the formula I = prt. To find I, first find the total amount of money Gerardo will pay. $120 ● 48 = $5,760 He will pay $5,760 – $4,500 or $1,260 in interest. So, I = 1,260. The principal is $4,500. So, p = 4,500. The loan will be for 48 months or 4 years. So, t = 4. Find the Interest Rate

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Example 3 I = prtWrite the simple interest formula. 1,260 = 4,500 ● r ● 4Replace I with 1,260, p with 4,500, and t with 4. 1,260 = 18,000rSimplify. Answer: The simple interest rate is 7%. Find the Interest Rate Divide each side by 18,000. 0.07 = r

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1.A 2.B 3.C 4.D Example 3 A.7.5% B.10% C.12% D.13.5% LOANS Jocelyn borrowed $3,600 from her bank for home improvements. She will repay the loan by paying $90 a month for the next five years. Find the simple interest rate of the loan.

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1.A 2.B 3.C 4.D Five Minute Check 1 A.10.7%; increase B.10.7%; decrease C.12%; increase D.12%; decrease Find the percent of change. Round to the nearest tenth if necessary. State whether the percent of change is an increase of a decrease. original: 25 new: 28 (over Lesson 5-8)

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1.A 2.B 3.C 4.D Five Minute Check 2 A.23.4%; decrease B.23.4%; increase C.30.6%; decrease D.30.6%; increase Find the percent of change. Round to the nearest tenth if necessary. State whether the percent of change is an increase or a decrease. original: 47 new: 36 (over Lesson 5-8)

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1.A 2.B 3.C 4.D Five Minute Check 3 A.$45.50 B.$46.15 C.$84.50 D.$95 Find the selling price for a book if the cost to the store is $65 and the markup is 30%. (over Lesson 5-8)

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1.A 2.B 3.C 4.D Five Minute Check 4 A.$102.00 B.$112.00 C.$128.00 D.$138.00 Find the sale price of a $120 lamp that is on sale for 15% off. (over Lesson 5-8)

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1.A 2.B 3.C 4.D Five Minute Check 5 A.$437.50 B.$364.00 C.$336.62 D.$262.50 A $350 grill is on sale for 25% off. Find the sale price. (over Lesson 5-8)

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1.A 2.B 3.C 4.D Five Minute Check 6 A.$9.80 B.$18.20 C.$20.20 D.$65.00 Find the amount of discount for a $28 shirt that is on sale for 65% off the original price. (over Lesson 5-8)

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