Presentation on theme: "Rounding 3 Round to the nearest whole number 3.46"— Presentation transcript:
1Rounding 3 Round to the nearest whole number 3.46 Round to the nearest cent $Round to the nearest tenthRound to the nearest dollar $14.13Round to the nearest hundredthRound to the nearest thousandth$19.94258$14.000.9917.630
3Simple Interest What is interest?? Words to know: Simple Interest- the amount paid or earned for the use of money.Principal- the amount of money deposited or invested.
4Simple InterestTo find simple interest we use the following formula:I = prtThe amount of time the money is invested or borrowed (years)InterestInterest rate written as a decimalPrincipal
5Find the interest earned Ray has $750 in a savings account that pays 3% simple interest. How much interest will he earn in 4 years?I = 750 x 3% x 4Ray will earn $90 interest in 4 years.
6Find the interest paid I = 1,200 x 8% x 2 Cory borrows $1,200 from the bank for a riding lawn mower. The interest rate is 8% per year. How much simple interest will he pay if he takes 2 years to repay the loan?I = 1,200 x 8% x 2Cory will pay $192 interest in 2 years.
7Find the interest earned. Kate’s bank offered 4% simple interest on her deposit. She has $1,500 to invest. How much interest will she earn in 30 months?30 months is how many years? 30/12 = 2.5 yearsI = 1,500 x 4% x 2.5Kate will earn $150 interest in 30 months.
8Find the total paid 9 months is how many years? 9/12 = .75 years Henry charged $600 TV on his credit card with an interest rate of 21%. How much money will he owe after 9 months.9 months is how many years? 9/12 = .75 yearsI = 600 x 21% x .75= $94.50 interestAmount paid $600 + $94.50 = $694.50
9Try theseAllison charged a $30 handbag on her credit card with an interest rate of 8%. How much money would she pay after 6 months?Marcus has $1,800 dollars from his summer job to invest. If he invest in a savings for 3 years at a rate of 5.25%. How much interest will he earn?$31.20$283.50