Exploring Adding and Subtracting Rational Expressions

This video tutorial explains the concept of simple interest, including its definition and formula (I = PRT). It provides examples of calculating simple interest for various scenarios, such as loans and savings. The video also covers solving word problems and more complex problems involving unknowns, emphasizing the importance of understanding interest rates and time in financial calculations.

What does the 'P' in the simple interest formula represent?

• Principal amount

• Period in years

• Payment amount

• Percentage rate

How do you convert a percentage rate to a decimal for the formula?

• Divide by 100

• Add 0.01

• Subtract 0.01

• Multiply by 100

What is the simple interest on a loan of $675 at 4% for 3 years?

• $80.50

• $82

• $85

• $81

If you borrow $900 at 8% interest for 5 years, how much interest will you pay?

• $320

• $360

• $450

• $400

What is the total amount Marcia will have paid after 5 years for a car loan of $8,975 at 4.9%?

• $11,173.88

• $10,000

• $12,000

• $11,500

How long will it take for Lance's investment to double if he invested $5,200 at 6.5% interest?

• 15.4 years

• 10 years

• 20 years

• 12.5 years

What was the interest rate for Shane's $12,000 motorcycle loan if he paid $3,267 in interest over 5.5 years?

• 4.95%

• 5.5%

• 5%

• 4.5%

What is the interest rate Gaby got for her $1,650 TV loan if she paid a total of $1,914?

• 7.5%

• 8%

• 10%

• 9%

What is the interest rate if Elena's $3,000 savings account earns $600 over 5 years?

• 4%

• 4.5%

• 3.5%

• 5%

What was the purchase price of Alex's boat if he paid $8,456.40 in interest at 2.4% over 15 years?

• $23,490

• $25,000

• $22,500

• $20,000