Simple Interest
Haese Mathematics MYP 4 - Chapter 11D, page 161
Embedded Files
Numbers Beyond School:
Numbers Beyond School:
You will use these skills in home budgeting, finance, money handling
Success Criteria:
Success Criteria:
You will be able to:
Identify and apply correctly the simple interest formula
Identify each element in calculating simple interest and find the value of each using the formula (P, i, n)
Understand the concept of interest and it's uses
Rearrange the formula to solve for the unknown value
Prior Knowledge:
Percentages
Time periods
Rearranging equations
Key Vocabulary:
Principal, initial, borrow, repay, investment, per annum, deposit, withdraw
New Knowledge:
New Knowledge:
Notes:
Interest given in a scenario needs to be first converted to decimal form
Read each question carefully to understand whether you are finding the interest or total amount saved/owed
Divide the total repayment amount by the time period of loan to find regular repayments
Entry level: Exercise 11A (all questions)
Arithmetic sequence simple interest worksheet:
Additional Resources
Additional Resources
Google Sites
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