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February 15, 2011 1
February 15, 2011 1
2
Simple Interest
Introduction
Simple interest is a method of calculating the interest on
money that is borrowed or loaned
Simple Interest is not typically used when you deal with a bank
or other financial institution
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Lesson 3.2
Simple Interest
Objectives
You should be able to do the following after completing this lesson.
• Define simple interest, nominal interest rate and period interest rate
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Lesson 3.2
Simple Interest
SI = P x R x Y
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Lesson 3.2
Simple Interest
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Lesson 3.2
Simple Interest
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Lesson 3.2
Simple Interest
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Lesson 3.2
Simple Interest
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Lesson 3.2
Simple Interest
Discussion Questions
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