Simple Interest
Presentation
•
Mathematics
•
6th Grade
•
Practice Problem
•
Medium
TRAVIS BARNES
Used 2+ times
FREE Resource
5 Slides • 5 Questions
1
Mr. Barnes
Simple Interest
2
Simple interest is an interest charge that borrowers pay lenders for a loan.
3
Multiple Choice
What is simple interest ?
The amount of money you start with
The interest charge that borrowers pay lenders back.
The time
4
I=PRT
I = Interest
P= Principle ( Starting amount)
T= time ( years or months)
5
Multiple Choice
What is the principle referred to as ?
The ending amount
The starting amount
The time
The interest
6
Multiple Choice
What is the formula for calculating interest ?
I=RTE
I=PRT
I=TRI
7
1.Identify Principle (Starting amount
2. Identify your rate and change to a decimal
3. Identify your TIme.
4. Multiply (Principle X Rate X Time )
8
Example: Elijah Borrows 500 dollars from the bank at a rate of 4% over a period of 3 years.
I= P X R X T
I=500 X .04 X 3
500x.04x3 = 60 ELIJAH HAS TO PAY BACK 60 DOLLARS IN INTEREST
9
Multiple Choice
Mr. Barnes takes out a loan in the amount of 1500 dollars. His Rate is 7% over a span of 3 years. How much will his interest be ?
315
215
300
330
10
Multiple Choice
How much will he pay back in total ?
1800
1815
Mr. Barnes
Simple Interest
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