1. 3-3
Example 1
Find the simple interest earned on an investment of $500 at 7.5% for 6 months.
1. Write the simple interest formula.
I = prt
Lesson 3-3 Example 1

2. 3-3
Example 1
Find the simple interest earned on an investment of $500 at 7.5% for 6 months.
2. Write the decimal for 7.5%.
0.075
The time is not given in years.
6 months = 0.5 year
Lesson 3-3 Example 1

3. 3-3
Example 1
Find the simple interest earned on an investment of $500 at 7.5% for 6 months.
3. Substitute the principal, rate, and time into the formula.
I = 500 ● ● 0.5
= 18.75
Lesson 3-3 Example 1

4. 3-3
Example 1
Find the simple interest earned on an investment of $500 at 7.5% for 6 months.
4. The amount of interest earned is $18.75.
Lesson 3-3 Example 1