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8-6 Simple Interest Solve problems involving simple interest
Turn and talk ,[object Object],[object Object]
Concept Map—Simple Interest Simple Interest What? Why do I care? How?
Henry has $750 in a savings account that pays 3% simple interest.  How much interest will he earn in each amount of time? ,[object Object],[object Object],[object Object]
What would I plug in for the time on each? ,[object Object],[object Object],[object Object]
Emilio’s father 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?
Emilio’s father borrows $1,200 from the bank for a riding lawn mower.  The interest rate is 8% per year.  How much will he have to pay back in all?
Cory charged a $600 TV on his credit card with an interest rate of 21%. If he has no other charges on the card, how much money will he owe after one month?
Find the interest earned to the nearest cent for each principal, interest rate, and time. ,[object Object],[object Object]
Find the interest paid to the nearest cent for each loan balance, interest rate, and time ,[object Object],[object Object]
In 2002, a $5 bank note from 1886 was sold to a collector for $103,500.  Suppose a person had deposited the $5 in a bank in 1886 with an interest rate of 4%.  After 116 years, how much simple interest would have been earned on the account?
Marcus would like to have $2,340 altogether.  If he invests his money at 5% interest, in how many yeas will he have $2,340? A bonus buck to the first person who gets it.
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Journal ,[object Object]
Homework ,[object Object]

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8 6 Simple Interest

  • 1. 8-6 Simple Interest Solve problems involving simple interest
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  • 3. Concept Map—Simple Interest Simple Interest What? Why do I care? How?
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  • 6. Emilio’s father 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?
  • 7. Emilio’s father borrows $1,200 from the bank for a riding lawn mower. The interest rate is 8% per year. How much will he have to pay back in all?
  • 8. Cory charged a $600 TV on his credit card with an interest rate of 21%. If he has no other charges on the card, how much money will he owe after one month?
  • 9.
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  • 11. In 2002, a $5 bank note from 1886 was sold to a collector for $103,500. Suppose a person had deposited the $5 in a bank in 1886 with an interest rate of 4%. After 116 years, how much simple interest would have been earned on the account?
  • 12. Marcus would like to have $2,340 altogether. If he invests his money at 5% interest, in how many yeas will he have $2,340? A bonus buck to the first person who gets it.
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