Tuesday, Oct 30

5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.1. $60; with a 60% discount 2. $40; with 7% tax3. $199; with a15% discount4. $119.50; with 20% off and 7% taxNew Rule Homework must be turned in at the beginning of class to be considered on time.

5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.1. $60; with a 60% discount 5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.1. $60; with a 60% discount

100% - 60% = 40%part = percent (in decimal form) x wholepart = .4 60 = $24.00

5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.2. $40; with 7% tax5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.2. $40; with 7% tax

100% + 7% = 107%part = percent (in decimal form) x wholepart = 1.07 40 = $42.80

5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.3. $199; with a15% discount5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.3. $199; with a15% discount

100% - 15%= 85%part = percent (in decimal form) x wholepart = .85 199 = $169.15

5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.4. $119.50; with 20% off and 7% tax5 Minute CheckFind the price to the nearest cent. Complete on the back of your homework.4. $119.50; with 20% off and 7% tax100% - 20%= 80%part = percent (in decimal form) x wholepart = .8 119.5 = $95.60100% + 7% = 107%part = percent (in decimal form) x wholepart = 1.07 95.6 = $102.29

Wednesday, Feb 4 Lesson 7.2.8

Financial LiteracySolve One-Step Inequalities

Hint - the principal amount is the initial amount you invest or deposit into an account.Solve One-Step Inequalities

Hint - rate is in decimal form. Solve One-Step Inequalities

Solve One-Step Inequalities

Financial LiteracyObjective: To solve problems involving simple interest. Financial LiteracyThe principal is the amount of money deposited or borrowed. Financial LiteracyThe principal is the amount of money deposited or borrowed.

Simple interest is the amount paid or earned for the use of the money. Financial LiteracyThe formula below shows how to calculate simple interest.

Write this down.

Financial LiteracyDollars earned($)Percent (decimal)

Dollars deposited($)Years

Financial LiteracyArnold puts $580 into a savings account. The account pays 3% simple interest. How much will he earn in 5 years? I = prt

Interest earned?

Financial LiteracyArnold puts $580 into a savings account. The account pays 3% simple interest. How much will he earn in 5 years? I = prt

Principal?

Financial LiteracyArnold puts $580 into a savings account. The account pays 3% simple interest. How much will he earn in 5 years? I = 580rt

Rate?

Financial LiteracyArnold puts $580 into a savings account. The account pays 3% simple interest. How much will he earn in 5 years? I = 580 0.03t

Time?

Financial LiteracyArnold puts $580 into a savings account. The account pays 3% simple interest. How much will he earn in 5 years? I = 580 0.03 5

What is the simple interest?

Financial LiteracyArnold puts $580 into a savings account. The account pays 3% simple interest. How much will he earn in 5 years? I = 580 0.03 5 = $87

Financial LiteracyArnold puts $580 into a savings account. The account pays 3% simple interest. How much will he earn in 5 years? I = 580 0.03 5 = $87

How much will he earn in 6 months?

Financial LiteracyFinancial LiteracyJenny puts $1000 into a savings account. The account pays 2.5% simple interest. How much will he earn in 3 years? I = prt

Do this on your own.

Financial LiteracyJenny puts $1000 into a savings account. The account pays 2.5% simple interest. How much will he earn in 3 years? I = prt

I = 1000 0.025 3 = $75On the homework, this is the work that must be shown; in addition to the long multiplication. The long multiplication can be done on another piece of paper, but must be numbered.

Financial LiteracyMarco invests $800 into a savings account. The account pays 4% simple interest. How much will he earn in 5 years? I = prt

Do this on your own.

Financial LiteracyMarco invests $800 into a savings account. The account pays 4% simple interest. How much will he earn in 5 years? I = prt

I = 800 0.04 5 = $160

Financial LiteracyIf you borrow money from a bank, you pay the bank interest for the use of their money. You also pay interest to a credit card company if you have an unpaid balance. You can use the formula to also find the amount of interest owed. I = prt

Financial LiteracyRondells parents borrow $6,000 from the bank to buy a car. The interest rate is 6% a year. How much simple interest will they pay if they take 2 years to repay the loan? I = prt

Do this on your own.

Financial LiteracyRondells parents borrow $6,000 from the bank to buy a car. The interest rate is 6% a year. How much simple interest will they pay if they take 2 years to repay the loan? I = prt

I = 6000 0.06 2 = $720This is in addition to the initial $6,000.

Financial LiteracyDerricks dad bought new tires for $900 using a credit card. His card has an interest rate of 19%. If he has no other charges on his card and does not make a payment, how much money will he owe after one month?

Do this on your own.

Financial Literacy 14.2512)171.00 -12 51 -48 30 -24 60Financial LiteracyMrs. Hanover borrows $1,400 at a rate of 5.5% per year. How much simple interest will she pay if it takes 8 months to repay the loan? I = prt

Do this on your own.

Financial LiteracyFinancial LiteracyLuis is taking out a car loan for $5,000. He plans on paying the loan off in 2 years. At the end of 2 years, he will have paid $300 in interest. What is the simple interest rate on the car loan? I = prt

Financial LiteracyFinancial LiteracyJohannas parents give her $10 per week for lunch money.

Dustin bought a $2,000 computer with a credit card. The minimum payment each month is $35. Each month 1% of the unpaid balance is added to the amount he owes. If he pays only $35 the 1st month, what will he owe the 2nd month? Financial LiteracyJohannas parents give her $10 per week for lunch money.

Dustin bought a $2,000 computer with a credit card. The minimum payment each month is $35. Each month 1% of the unpaid balance is added to the amount he owes. If he pays only $35 the 1st month, what will he owe the 2nd month? principal min payment principal min payment x monthly interest After 1st month = ($2000 $35) + ($2000 $35) 0.01 = $1965 + $1965 0.01 = $1965 + $19.65 = $1984.65

Financial LiteracyJohannas parents give her $10 per week for lunch money.

Dustin bought a $2,000 computer with a credit card. The minimum payment each month is $35. Each month 1% of the unpaid balance is added to the amount he owes. If he pays the minimum payment, what will he owe the 3rd month?

Financial LiteracyJohannas parents give her $10 per week for lunch money.

Dustin bought a $2,000 computer with a credit card. The minimum payment each month is $35. Each month 1% of the unpaid balance is added to the amount he owes. If he pays the minimum payment, what will he owe the 3rd month? After 1st month = $1984.65 new principal min payment new principal min payment x monthly interestAfter 2nd month = ($1984.65 $35) + ($1984.65 $35) 0.01 = $1949.65 + $1949.65 0.01 = $1949.65 + $19.50 = $1969.15

Financial LiteracyAgenda NotesHomeworkHomework Practice 7.2.8Show all work and circle the answer. Do not do #7 or 8Due Thursday, Feb 5

Chapter 7.2/7.3 Test - Tuesday, Feb 10