SIMPLE INTEREST

1
SIMPLE INTEREST

• Simple interest is the amount
• paid for the use of money.

2
FORMULA

• IPRT

3
INTEREST EQUALS

• PRINCIPAL - the amount of money invested or
  borrowed
• RATE - in the annual interest
• TIME - in years

4
SAVINGS ACCOUNT

• You can also use the formula to find the simple
  interest when you deposit money in a savings
  account

5
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?

6
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?

7
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 youre
  actually spending when you shop.

8
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 ?

9
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 ByLynn Husen Pat Layton Maury Middle
Dandridge, TN