Rounding

Round to the nearest whole number 3.46 3

Round to the nearest cent $19.9357 $19.94

Round to the nearest tenth 257.99 258

Round to the nearest dollar $14.13 $14.00

Round to the nearest hundredth 0.9912 0.99

Round to the nearest thousandth 17.6295 17.630

 Simple Interest
Lesson 8-6
Solve problems involving simple
interest.
 Simple Interest
What is interest??
Words to know:
Simple Interest- the amount paid or
earned for the use of money.
Principal- the amount of money deposited
or invested.
 Simple Interest
To find simple interest we use the
following formula:
I = prt
The amount of
time the money
is invested or
Interest
borrowed (years)

Interest rate
Principal
written as a
decimal
 Find the interest earned
Ray has $750 in a savings account that
pays 3% simple interest. How much
interest will he earn in 4 years?

I = 750 x 3% x 4

Ray will earn $90 interest in 4 years.

 Find the interest paid
Cory borrows $1,200 from the bank for a
riding lawn mower. The interest rate is
8% per year. How much simple interest
will he pay if he takes 2 years to repay the
loan?
I = 1,200 x 8% x 2

Cory will pay $192 interest in 2 years.

 Find the interest earned.
Kates bank offered 4% simple interest on
her deposit. She has $1,500 to invest.
How much interest will she earn in 30
months?
30 months is how many years?
30/12 = 2.5 years
I = 1,500 x 4% x 2.5

Kate will earn $150 interest in 30 months.

 Find the total paid
Henry charged $600 TV on his credit card
with an interest rate of 21%. How much
money will he owe after 9 months.
9 months is how many years? 9/12
= .75 years
I = 600 x 21% x .75 = $94.50 interest
Amount paid $600 + $94.50 = $694.50
 Try these
Allison charged a $30 handbag on her
credit card with an interest rate of 8%.
How much money would she pay after 6
months?
$31.20
Marcus has $1,800 dollars from his
summer job to invest. If he invest in a
savings for 3 years at a rate of 5.25%.
How much interest will he earn?
$283.50
 Practice / Homework

Complete page 584 lesson 8-6 # 2- 12

evens

Homework: Lesson 8-6 # 1-16 all