1. 1. Get out Tuesday assignment or agenda2.How can you determine if you need to use the % change equation? Question of day

2. Agenda • 1. Go over lesson 4 and lesson 8 questions • 2. Simple Interest notes • 3. Lesson 10 examples 1-2 exercises 1-2 problem set #1-2

3. Simple interest

4. Interest is the money earned that is placed in account • Interest is the money given to the loaner so money can be borrowed • We earn interest when we put money in a bank • We pay interest when borrow money • The bank will give you 4.5% on the money deposited into its savings account • When you borrow money to buy a house, a bank can lean you the money, but you will pay them 5% extra on the money you borrowed

5. How to figure • To find simple interest you multiply the amount of money you put in account, the time it is in account and the percent of interest promised • Interest = principle x time x interest • I=prt • Principle= the amount put in account or borrowed • Rate= the interest promised on percent T= time in years or part of year

6. You try • You put 1500 in a saving for 2 years at a rate of 5%? What is the interest earned.

7. Another example • Of you borrowed 1000 at a rate of 4% for 6 months how much would ypu have to pay back • *remember you have to pay back original amount borrowed • Also 6 months is part or decimal of a year

8. Assignment • Lesson 10 examples 1-2 exercises 1-2 problem set #1-2

9. Exit ticket • Answer to problem set #1