Simple Interest

​Simple Interest

5.3 Applications of Percent

Finding Simple Interest

• simple interest:​ fixed percent of the principal

• principal: original amount of money deposited​ or borrowed​

​

i = prt​

Multiple Choice

Jaqueline has $450 in a savings account that earns 5% simple interest each year. How much will be in the account in 10 years?

• $22.50

• $225

• $675

• $100

​Percent Change Review

Multiple Choice

The Gomez family goes out for dinner, and the price of the meal is $60. The sales tax on the meal is 7%, and they also want to leave a 15% tip. What is the total cost of the meal?

• $64.20

• $73.20

• $69

• $73.20

Multiple Choice

The store is having a 50% off sale on all items. If you take a 50% off coupon, then how much are the headphones that are originally $200?

• $50

• $100

• $150

• $250

Multiple Choice

Our Module 5 test is next Monday.

• True

• False

• What test?