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Consumers Math

Published on Nov 24, 2015

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PRESENTATION OUTLINE

1.

SIMPLE INTEREST

HANNAH, AMANDA, ERICA
2.

WHAT IS SIMPLE INTEREST?

  • Amount of money paid/earned
  • Loans
  • Savings account
3.

FORMULA

  • I=PRT
4.

HOW DO YOU USE IT?

  • I=interest earned/paid
  • P=principal amount
  • R=interest rate
  • T=time you want to know
  • Calculate interest earned in savings over time
5.

TRICKY ENCOUNTERS

  • Move decimal to the left
  • Find out interest before taking out loans

Amanda Belt