SIMPLE INTEREST: SIMPLE INTEREST Simple interest is the amount
paid for the use of money. FORMULA: FORMULA I=PRT INTEREST EQUALS: INTEREST EQUALS PRINCIPAL - the amount of money invested or borrowed
RATE - in the annual interest
TIME - in years SAVINGS ACCOUNT: SAVINGS ACCOUNT You can also use the formula to find the simple interest when you deposit money in a savings account INVESTING: INVESTING Angie has $500 in a savings account that pays 5% simple interest.
How much interest will she earn in 2 years?
How much interest will she earn if she withdraws the money after 9 months? HOME IMPROVEMENT: HOME IMPROVEMENT If you borrow $5,000 at 11.5% for 3 years to make home repairs and improvements. How much will you have to pay back, including interest? DISCOUNT & SALES TAX: DISCOUNT & SALES TAX WHEN AM I EVER GOING TO USE THIS?
Knowing how to calculate discounts and sales tax will help you determine how much money you’re actually spending when you shop. MONEY MATTERS: MONEY MATTERS A $53 racquet at Sports Galore is on sale for 20% off the regular price.
What is the amount of the discount?
What is the sale price ? PERCENT OF CHANGE: PERCENT OF CHANGE When shopping for roses the originally cost was $36 dollars before Valentines Day is now on sale for $18 dollars.
What is the percent of decrease of the roses? Created By:Lynn Husen & Pat Layton