Unit 2

Ratios & Proportional Relationships

Interactive Notebook

Created By: Math in Demand

Simple Interest

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Math in Demand with

Ratios & Proportional Relationships (Simple Interest)

©2017 Math in Demand

I =

Balance =

Principal: $230.00 Interest Rate: 5%

Time: 1 year

I: $ ______ B: $ ______

Principal: $550.00 Interest Rate: 3.5%

Time: 8 months

I: $ ______ B: $ ______

I can ___________________

_______________________

Vocabulary Word: Simple Interest

Definition:

Vocabulary Word: Balance

Definition:

Ratios & Proportional Relationships (Simple Interest)

©2017 Math in Demand

On a rating of 1-5, how comfortable are you with this concept?

(5 is the highest)

1 2 3 4 5

Reflection: I learned…

Principal: $215.00 Interest Rate: 4.75%

Time: 3 years

I: $ ______ B: $ ______

Principal: $575.00 Interest Rate: 12%

Time: 9 months

I: $ ______ B: $ ______

Principal: $1,050.00 Interest Rate: 5.5%

Time: 3 months

I: $ ______ B: $ ______

Ratios & Proportional Relationships (Simple Interest)

©2017 Math in Demand

I = PRT = Principal x Rate x Time

Balance = I + P = Interest + Principal

Time needs to be in years!

Principal: $230.00 Interest Rate: 5%

Time: 1 year

I: $ ______ B: $ ______

Principal: $550.00 Interest Rate: 3.5%

Time: 8 months

I: $ ______ B: $ ______

I can ___________________

_______________________

Vocabulary Word: Simple Interest

Definition: The amount owed for a bank or lender allowing you to borrow money.

Vocabulary Word: Balance

Definition: The whole amount owed for a bank or lender allowing you to borrow money (this includes the original amount borrowed and the interest).

Interest = ($230)(0.05)(1) Interest = $11.50

Balance = $230 + $11.50

= $241.50

11.50

241.50

Interest = ($550)(0.035)(8/12) Interest = $12.83

Balance = $550 + $12.83

= $562.83

12.83

562.83

calculate the interest and

balance on a loan.

Ratios & Proportional Relationships (Simple Interest)

©2017 Math in Demand

On a rating of 1-5, how comfortable are you with this concept?

(5 is the highest)

1 2 3 4 5

Reflection: I learned…

Principal: $215.00 Interest Rate: 4.75%

Time: 3 years

I: $ ______ B: $ ______

Principal: $575.00 Interest Rate: 12%

Time: 9 months

I: $ ______ B: $ ______

Principal: $1,050.00 Interest Rate: 5.5%

Time: 3 months

I: $ ______ B: $ ______

Interest = ($215)(0.0475)(3) Interest = $30.64

Balance = $215 + $30.64

= $245.64

30.64

245.64

Interest = ($575)(0.12)(0.75)

Interest = $51.75

Balance = $575 + $51.75 = $626.75

51.75

626.75

Interest = ($1,050)(0.055)(0.25)

Interest = $14.44

Balance = $1,050 + $14.44 = $1,064.44

14.44

1,064.44

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