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Lesson 9 Menu

Five-Minute Check (over Lesson 5-8) Main Idea and Vocabulary Targeted TEKS Example 1: Find Simple Interest Example 2: Find the Total Amount Example 3: Find the Interest Rate. Lesson 9 Menu. Solve problems involving simple interest. interest. principal. Lesson 9 MI/Vocab.

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Lesson 9 Menu

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  1. Five-Minute Check (over Lesson 5-8) Main Idea and Vocabulary Targeted TEKS Example 1: Find Simple Interest Example 2: Find the Total Amount Example 3: Find the Interest Rate Lesson 9 Menu

  2. Solve problems involving simple interest. • interest • principal Lesson 9 MI/Vocab

  3. Find Simple Interest Find the simple interest for $2,000 invested at 5.5% for 4 years. I = prtWrite the simple interest formula. I = 2000 ● 0.055 ● 4 Replace p with 2,000, r with 0.055, and t with 4. I = 440 The simple interest is $440. Answer: $440 Lesson 9 Ex1

  4. Find the simple interest for $1,500 invested at 5% for 3 years. • A • B • C • D A. $160 B. $175 C. $215 D. $225 Lesson 9 CYP1

  5. Read the Test Item You need to find the total amount in an account. Notice that the time is given in months. Six months isyear. Find the Total Amount GRIDDABLE Find the total dollar amount in an account where $80 is invested at a simple annual interest rate of 6% for 6 months. Solve the Test Item I = prtSimple interest formula Lesson 9 Ex2

  6. Find the Total Amount I = 2.4 Simplify. Answer: The amount in the account is $80 + $2.40 or $82.40. Lesson 9 Ex2

  7. TEST EXAMPLEFind the total amount of money in an account where $60 is invested at 8% for 3 months. • A • B • C • D A. $60.30 B. $61.20 C. $62.20 D. $62.30 Lesson 9 CYP2

  8. Find the Interest Rate LOANS Gerardo borrowed $4,500 from his bank for home improvements. He will repay the loan by paying $120 a month for the next four years. Find the simple interest rate of the loan. Use the formula I = prt. To find I, first find the total amount of money Gerardo will pay. $120 ● 48 = $5,760 He will pay $5,760 – $4,500 or $1,260 in interest. So, I = 1,260. The principal is $4,500. So, p = 4,500. The loan will be for 48 months or 4 years. So, t = 4. Lesson 9 Ex3

  9. Divide each side by 18,000. Find the Interest Rate I = prtWrite the simple interest formula. 1,260 = 4,500 ● r ● 4 Replace I with 1,260, p with 4,500, and t with 4. 1,260 = 18,000r Simplify. 0.07 = r Answer: The simple interest rate is 7%. Lesson 9 Ex3

  10. LOANS Jocelyn borrowed $3,600 from her bank for home improvements. She will repay the loan by paying $90 a month for the next five years. Find the simple interest rate of the loan. • A • B • C • D A. 7.5% B. 10% C. 12% D. 13.5% Lesson 9 CYP3

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