'Interest p' presentation slideshows

8.1 Simple Interest

8.1 Simple Interest. Key Terms. Principal: A sum of money that is borrowed or invested. Simple interest: Interest earned or paid only on the original sum of money that was invested or borrowed. Interest: The money earned from an investment or the cost of borrowing money.

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Types of Borrowing

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Name: ______________________________ Hour: ___________

Name: ______________________________ Hour: _________________ A. Simple interest: multiply the balance of money you owe by the interest rate owed, over the course of a year. I = interest P = principal r = interest rate (per year) t = time (in years or fraction of a year)

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