Exploring Percent Error and Simple Interest Concepts

The video tutorial covers two main topics: percent error and simple interest. It begins with an explanation of percent error, including how to calculate it and its significance in scientific measurements. Examples are provided to illustrate the concept. The tutorial then transitions to simple interest, explaining its components such as principal, rate, and time. It includes examples of calculating simple interest and finding the balance. The video concludes with a section on determining the rate or time in interest calculations.

What is the first step in calculating percent error?

• Take the absolute value of the difference

• Divide by the actual value

• Subtract the estimated value from the actual value

• Multiply by 100

What signifies a significant percent error in scientific measurements?

• Above 25%

• Above 75%

• Above 10%

• Above 50%

How is simple interest calculated?

• Principal plus interest rate

• Principal times rate times time

• Principal divided by rate and time

• Rate plus time

What does the 'T' in the simple interest formula represent?

• Total amount

• Transaction number

• Time in years

• Tax rate

If you deposit $1,500 in a savings account with a 3% interest rate, how much interest will you earn in 5 years?

• $450

• $300

• $75

• $225

What is the balance after earning interest on a $1,500 deposit over 5 years at a 3% interest rate?

• $1,800

• $1,725

• $1,500

• $1,575

How much interest do you pay on a $10,000 loan over 10 years at an 8% interest rate?

• $1,000

• $800

• $8,000

• $10,000

What is the total amount paid back on a $10,000 loan after 10 years at an 8% interest rate?

• $10,000

• $8,000

• $18,000

• $10,800

For a deposit of $400 at a 2% interest rate over 9 months, how much interest is earned?

• $12

• $10

• $6

• $8

After 54 months, what is the total in your account if you had a principal of $5,200 at a 7.36% interest rate?

• $7,200

• $6,922.24

• $6,800

• $7,922.24