Calculating Simple Interest

The video tutorial explains how to calculate simple interest using the simple interest equation. It begins with an example of Tim investing $100 at a 3% annual simple interest rate. The tutorial covers the concept of percent change, conversion between percent and decimal, and the calculation of simple interest. It also discusses the impact of varying the principal amount and time on the interest and final amount, illustrating these concepts with graphs. The lesson concludes with a summary of the simple interest calculation process.

How do you convert a percentage to a decimal?

What happens to the interest earned if the principal amount is increased?

If Tim keeps his money in the bank for a longer time, how is the interest calculated?