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Download Enriched Pre-Algebra - Simple Interest (Chapter 5-8)
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Enriched PreAlgebra Simple Interest (Chapter 58) Simple Interest Enriched Pre-Algebra Find the simple interest to the nearest cent. 1. $300 at 7.5% for 5 years 2. $230 at 12% for 8 months Interest: The amount paid or earned for the use of money. Principal: The amount of money invested or borrowed. I = prt I - Interest p = principal r = rate (interest rate) t = time (in years) Steps: Finding the Interest Write out the formula: I = prt. 2. Plug in the values for each part of the formula. 3. Change the percent to a decimal. 4. Write the time in years (you may have the convert months to years) Example: 3 months = 0.25 years 5. Solve the equation to find the Simple Interest. 1. 3. $500 at 6.25% for 3 years Find the total amount in each account to the nearest cent. 1. $660 at 5.25% for 2 years Steps: Finding the Total Amount 1. Find the interest using the steps listed under “Finding the Interest”. 2. Add the interest to the original amount to find the total amount. 2. $385 at 12.6% for 9 months 1 Enriched PreAlgebra Simple Interest (Chapter 58) 2 Enriched PreAlgebra Simple Interest (Chapter 58) Simple Interest Enriched Pre-Algebra Find the simple interest to the nearest cent. 1. $300 at 7.5% for 5 years 2. $230 at 12% for 8 months Interest: The amount paid or earned for the use of money. Principal: The amount of money invested or borrowed. I = prt I - Interest p = principal r = rate (interest rate) t = time (in years) Steps: Finding the Interest Write out the formula: I = prt. 2. Plug in the values for each part of the formula. 3. Change the percent to a decimal. 4. Write the time in years (you may have the convert months to years) Example: 3 months = 0.25 years 5. Solve the equation to find the Simple Interest. 1. 3. $500 at 6.25% for 3 years Find the total amount in each account to the nearest cent. 1. $660 at 5.25% for 2 years Steps: Finding the Total Amount 1. Find the interest using the steps listed under “Finding the Interest”. 2. Add the interest to the original amount to find the total amount. 2. $385 at 12.6% for 9 months 3 Enriched PreAlgebra Simple Interest (Chapter 58) Simple Interest Enriched Pre-Algebra Find the simple interest to the nearest cent. 1. $300 at 7.5% for 5 years 2. $230 at 12% for 8 months Interest: The amount paid or earned for the use of money. Principal: The amount of money invested or borrowed. I = prt I - Interest p = principal r = rate (interest rate) t = time (in years) Steps: Finding the Interest Write out the formula: I = prt. 2. Plug in the values for each part of the formula. 3. Change the percent to a decimal. 4. Write the time in years (you may have the convert months to years) Example: 3 months = 0.25 years 5. Solve the equation to find the Simple Interest. 1. 3. $500 at 6.25% for 3 years Find the total amount in each account to the nearest cent. 1. $660 at 5.25% for 2 years Steps: Finding the Total Amount 1. Find the interest using the steps listed under “Finding the Interest”. 2. Add the interest to the original amount to find the total amount. 2. $385 at 12.6% for 9 months 4 Enriched PreAlgebra Simple Interest (Chapter 58) Simple Interest Enriched Pre-Algebra Find the simple interest to the nearest cent. 1. $300 at 7.5% for 5 years 2. $230 at 12% for 8 months Interest: The amount paid or earned for the use of money. Principal: The amount of money invested or borrowed. I = prt I - Interest p = principal r = rate (interest rate) t = time (in years) Steps: Finding the Interest Write out the formula: I = prt. 2. Plug in the values for each part of the formula. 3. Change the percent to a decimal. 4. Write the time in years (you may have the convert months to years) Example: 3 months = 0.25 years 5. Solve the equation to find the Simple Interest. 1. 3. $500 at 6.25% for 3 years Find the total amount in each account to the nearest cent. 1. $660 at 5.25% for 2 years Steps: Finding the Total Amount 1. Find the interest using the steps listed under “Finding the Interest”. 2. Add the interest to the original amount to find the total amount. 2. $385 at 12.6% for 9 months 5 Enriched PreAlgebra Simple Interest (Chapter 58) Simple Interest Enriched Pre-Algebra Find the simple interest to the nearest cent. 1. $300 at 7.5% for 5 years 2. $230 at 12% for 8 months Interest: The amount paid or earned for the use of money. Principal: The amount of money invested or borrowed. I = prt I - Interest p = principal r = rate (interest rate) t = time (in years) Steps: Finding the Interest Write out the formula: I = prt. 2. Plug in the values for each part of the formula. 3. Change the percent to a decimal. 4. Write the time in years (you may have the convert months to years) Example: 3 months = 0.25 years 5. Solve the equation to find the Simple Interest. 1. 3. $500 at 6.25% for 3 years Find the total amount in each account to the nearest cent. 1. $660 at 5.25% for 2 years Steps: Finding the Total Amount 1. Find the interest using the steps listed under “Finding the Interest”. 2. Add the interest to the original amount to find the total amount. 2. $385 at 12.6% for 9 months 6
