Bell Work
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Bell Work Get a piece of notebook paper and write 3 complete thought sentences using ALL of the following vocabulary. • Percent • Sales Tax • Tip • Discount
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Bell Work . Get a piece of notebook paper and write 3 complete thought sentences using ALL of the following vocabulary. Percent Sales Tax Tip Discount. Simple Interest. Simple Interest . Simple Interest. Simple Interest. - PowerPoint PPT Presentation
Transcript of Bell Work
Bell Work Get a piece of notebook paper and write 3 complete thought sentences using ALL of the following vocabulary. • Percent• Sales Tax• Tip • Discount
Simple Interest
Simple Interest
Simple Interest
Simple Interest
SAVINGS Jenny has $1,560 in a savings account that pays 2.5% simple interest. How much interest will she earn in 3 years?
The formula I = prt can also be used to find the interest owed when you borrow money. In this case, p is the amount of money borrowed and t is the amount of time the money is borrowed.
Simple Interest
Simple Interest – You Try LOANS Mrs. Hanover borrows $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?
I = prtI = $1,400 x 0.055 x 8/12I = $51.33
Simple Interest
Simple Interest – You Try CREDIT CARDS An office manager charged $425 worth of office supplies on a credit card with an interest rate of 9.9%. How much money will he owe at the end of the month if he makes no other charges on the card and does not make a payment?
I = $425 x 0.099 x 1/12I = $3.51$425 + $3.51 = $428.51
Exit Slip1.) Mrs. Johnson has a savings account with $1,600, that earns 4% interest. At this rate, how much interest will she earn in:
a.) 5 months
b.) 2 years
2.) Bob charges $365 on his credit card with an interest rate of 11%. How much money will he owe at the end of the month if he makes no other charges and does not make a payment?
