Calculator link if needed: https://demo.tds.cambiumast.com/DesmosForAssessments/TDSCalculator.html?mode=fl_scirestricted
Reference sheet if needed: https://drive.google.com/file/d/1Itbf-bK6mSFRzZx03tmxnpYDYp0MX_HV/view
MA.7.AR.3.1- Apply previous understanding of percentages and ratios to solve multi-step real-world percent problems.
MA.K12.MTR.7.1 Apply mathematics to real-world contexts.
Question 1
1.
Question 2
2.
Question 3
3.
Question 4
4.
Miguel invests some money in a new company. What is the simple interest Miguel will earn on the money if he gave $5,000 at an annual interest rate of 4.5% for 7 years? (Use the formula 𝐼 = 𝑃𝑟𝑡, where 𝐼 is the interest, 𝑃 is the principal or initial investment, 𝑟 is the interest rate per year, and 𝑡 is the number of years.)
Let's buy a car!
You are going to pick your favorite car and then fill in the information on the chart to see which is a better rate for you.
The B stands for balance. You will write the original amount + interest here to see what the final cost will be.
Question 5
5.
Which car did you buy? Which bank was a better buy? How much will you have to pay in interest? How much will you pay total for your car after you add the original price plus the interest?
When you use the formula for simple interest, I=prt, the rate (r) is the percent. Remember to convert the rate to a decimal so that you can multiply it. What would the rate of 7% convert to as a decimal?
7.0
.7
.07
.007
When you use the formula for simple interest, I=prt, the t stands for time. Is time always in years?
yes
no
If the t in the simple interest formula represents time in years, what would you use for time if the loan was for 6 months?
