Thursday, March 17 Practice 7-7 is due today (please make

sure your name is on it. Agenda

Quiz on Tuesday, 3/22 (7-5 to 7-7) Grade Practice 7-7 Note Taking (Lesson 7-8) Assign Practice 7-8 (due next Tuesday)

Bell Work

Happy St. Patrick’s Day

Today’s Objective By the end of class today, SWBAT

Solve simple-interest problems Solve compound-interest problems

Vocabulary

the amount you first deposit into a bank account.

the money the bank pays you based on the interest rate.

the percent of the money you have deposited the bank pays you over a specified period of time.

interest paid only on the principal.

when a bank pays interest on the principal and on the interest an account has earned.

the principal plus the interest.

Key Concepts

Interest principalInterest rate time

final balance principal

interest rate

number of interest periods

Example

10001000 03.03. 2260

60 1060

601060

Quick Check

Example

31.24 51.510

51.510 51.510 53.25 51.510 04.536

04.536 04.536 80.26 04.536 84.562

84.562 84.562 14.28 84.562 98.590

98.590

Quick Check

Example

015.08

compound

2500 015.0 82500 015.0 8

23.2816

23.2816

Quick Check

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