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6-6. Simple Interest. Course 2. Warm Up. Problem of the Day. Lesson Presentation. 6-6. Simple Interest. Course 2. Warm Up Multiply. 1. 800  0.04  3 2. 1,700  2  0.25 3. 900  0.05  4 4. 1,200  6  0.35. 96. 850. 180. 2,520. 6-6. Simple Interest. 75. 3

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6-6

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  1. 6-6 Simple Interest Course 2 Warm Up Problem of the Day Lesson Presentation

  2. 6-6 Simple Interest Course 2 Warm Up Multiply. 1.800  0.04  3 2. 1,700  2  0.25 3. 900  0.05  4 4. 1,200  6  0.35 96 850 180 2,520

  3. 6-6 Simple Interest 75 3 4 3 40 = ; the others equal . 1,000 Course 2 Problem of the Day Which number does not belong in the group? 0.75 75% 3 4 6 8 75 1,000

  4. 6-6 Simple Interest Course 2 Learn to solve problems involving simple interest.

  5. 6-6 Simple Interest Course 2 Insert Lesson Title Here Vocabulary interest simple interest principal

  6. 6-6 Simple Interest Course 2 When you keep money in a savings account, your money earns interest. Interest is an amount that is collected or paid for the use of money. For example, the bank pays you interest to use your money to conduct its business. Likewise, when you borrow money from the bank, the bank collects interest on its loan to you.

  7. 6-6 Simple Interest Course 2 One type of interest, called simple interest, is money paid only on the principal. The principal is the amount of money deposited or borrowed. To solve problems involving simple interest, you can use the following formula. Rate of interest per year (as a decimal) Interest I= P · r · t Time in years that the money earns interest Principal

  8. 6-6 Simple Interest Course 2 Additional Example 1A: Using the Simple Interest Formula Find the missing value. A. I = , P =$575, r =8%, t = 3 years I =P · r · t I =575 · 0.08 · 3 Substitute. Use 0.08 for 8%. I = $138 Multiply. The simple interest is $138.00.

  9. 6-6 Simple Interest 10,200r 10,200 204 10,200 = Course 2 Additional Example 1B: Using the Simple Interest Formula Find the missing value. B. I = $204, P = $1,700, r = , t = 6 years I =P · r · t 204= 1,700 · r · 6 Substitute. 204 = 10,200r Multiply. Divide by 10,200 to isolate the variable. 0.02 = r The interest rate is 2%

  10. 6-6 Simple Interest Course 2 Try This: Example 1A Find the missing value. A. I = , P =$525, r =7%, t = 2 years I =P · r · t I =525 · 0.07 · 2 Substitute. Use 0.07 for 7%. I = $73.50 Multiply. The simple interest is $73.50.

  11. 6-6 Simple Interest 6,000r 6,000 600 6000 = Course 2 Try This: Example 1B Find the missing value. B. I = $600, P = $2,000, r = , t = 3 years I =P · r · t 600= 2,000 · r · 3 Substitute. 600 = 6,000r Multiply. Divide by 10,200 to isolate the variable. 0.1 = r The interest rate is 10%

  12. 6-6 Simple Interest Course 2 Insert Lesson Title Here Lesson Quiz Find each missing value. 1.I = 2.I = $18, P = $150, r = 3.I = $640, P = 4.I = $120, P = $600, r = 5% t = , P = $800, r = 10%, t = 3 years $240 6% , t = 2 years $2,000 , r = 4%, t = 8 years 4 years

  13. WP: Simple interest

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