logging in or signing up Simple and Compound Interest amdonnini Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 2972 Category: Entertainment License: All Rights Reserved Like it (6) Dislike it (1) Added: July 13, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: surendra1387 (4 month(s) ago) i need to download the presentation....thankz Saving..... Post Reply Close Saving..... Edit Comment Close By: jeetu123 (18 month(s) ago) i need to download the presentation....thankz Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Simple andcompoundinterest : Simple andcompoundinterest Interest : Interest When you deposit money in a bank, you EARN money for it. This money is called interest. When you borrow money from a bank, you are expected to pay for it. This money is also called interest. Principal and Simple Interest : Principal and Simple Interest The PRINCIPAL is the original amount of money you deposit or borrow. SIMPLE INTEREST is the interest earned only on the principal. Simple interest Formula : Simple interest Formula I = prt I p r t ....................... Is the interest earned ................................. Is the principal ............. Is the interest rate per year .......................... Is the time in years Solve : Solve Find the Simple Interest You borrow $300 for 5 years at an annual interest rate of 4%. What is the simple interest you pay in dollars? The interest is $60. Write the formula Substitute. Use 0.04 for 4%. Graphing Simple interest : Graphing Simple interest You have $500 in an account that earns an annual rate of 5.1%. At the end of each year, you withdraw the interest you have earned. Graph the total interest you earn after 1, 2, 3, and 4 years. Make a table. Make a graph. Interest ($) Time (yr) Compound Interest : Compound Interest COMPOUND INTEREST is interest paid on the original principal and on any interest that has been left in the account. THE BALANCE of an account is the principal plus the interest earned. Compound interest Formula : Compound interest Formula B = p(1 + r) t B p r t .................................. Is the Balance ................................. Is the principal ............. Is the interest rate per year .......................... Is the time in years Solve : Solve Find the Compound Interest You deposit $5,000 in a bank account that pays 3.75% compound interest. What is your balance after 9 years? The balance after 9 years is $6,964.07 Use a calculator to simplify the power. Write the Formula Substitute. Use 0.0375 for 3.75% Round to the nearest cent. You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
Simple and Compound Interest amdonnini Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 2972 Category: Entertainment License: All Rights Reserved Like it (6) Dislike it (1) Added: July 13, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: surendra1387 (4 month(s) ago) i need to download the presentation....thankz Saving..... Post Reply Close Saving..... Edit Comment Close By: jeetu123 (18 month(s) ago) i need to download the presentation....thankz Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Simple andcompoundinterest : Simple andcompoundinterest Interest : Interest When you deposit money in a bank, you EARN money for it. This money is called interest. When you borrow money from a bank, you are expected to pay for it. This money is also called interest. Principal and Simple Interest : Principal and Simple Interest The PRINCIPAL is the original amount of money you deposit or borrow. SIMPLE INTEREST is the interest earned only on the principal. Simple interest Formula : Simple interest Formula I = prt I p r t ....................... Is the interest earned ................................. Is the principal ............. Is the interest rate per year .......................... Is the time in years Solve : Solve Find the Simple Interest You borrow $300 for 5 years at an annual interest rate of 4%. What is the simple interest you pay in dollars? The interest is $60. Write the formula Substitute. Use 0.04 for 4%. Graphing Simple interest : Graphing Simple interest You have $500 in an account that earns an annual rate of 5.1%. At the end of each year, you withdraw the interest you have earned. Graph the total interest you earn after 1, 2, 3, and 4 years. Make a table. Make a graph. Interest ($) Time (yr) Compound Interest : Compound Interest COMPOUND INTEREST is interest paid on the original principal and on any interest that has been left in the account. THE BALANCE of an account is the principal plus the interest earned. Compound interest Formula : Compound interest Formula B = p(1 + r) t B p r t .................................. Is the Balance ................................. Is the principal ............. Is the interest rate per year .......................... Is the time in years Solve : Solve Find the Compound Interest You deposit $5,000 in a bank account that pays 3.75% compound interest. What is your balance after 9 years? The balance after 9 years is $6,964.07 Use a calculator to simplify the power. Write the Formula Substitute. Use 0.0375 for 3.75% Round to the nearest cent.