Simple Interest
Write the simple interest formula.
I = PrT
What is the capital of Australia?
Canberra
Write these percentages as decimals:
a) 15%
b) 90%
a) 15.0 ÷ 100.0 = 0.15
b) 90.0 ÷ 100.0 = 0.9
What is the compound interest formula?
A=P(1+r)^T
What University is Miss Wilson studying at?
Deakin University
Convert each of these times to years:
a) 52 weeks
b) 24 months
a) 1 year
b) 2 years
How many letters are between L and S in the alphabet?
6
Write these decimals as percentages:
a) 0.188
b) 0.0025
a) 18.8%
b) 0.25%
Use the compound interest formula to find the value of A
A = ?, P = $10,000, R = 0.05, n = 4.
$10000(1+0.05)^4
=$10000×〖1.05〗^4
=$12155.0625
≈$12155.06
What is Miss Wilson's first name?
Sarah
Calculate the simple interest in each of these cases:
a) P = $5000, r =6%, T = 4 years
b) P = $850, r = 12%, T = 2 years
a) $5000×0.06×4 =$1200
b) $850×0.12×2 =$204
When was the iPad first released?
Calculate each of these:
a) 12% of $480
b) 20% of $3000
a) 60%
b) 37.5%
For the investment below, state the:
i. number of compounding periods
ii. time length of each compounding period
$5000 is invested at 4.5% p.a for 2 years with the compound interest calculated at the end of each year.
i. 2
ii. 1 year
What is Miss Wilson's main teaching method?
Psychology
Find each unknown value:
a) I = ?, P = $8000, r = 3%, T = 9 years.
b) I = $1000, P = $5000, r = 5%, T = ?
a) $8000×0.03×9 =$2160
I = $2160
b) $5000 x 0.05 = $250
$1000 ÷ $250 = 4
T = 4
What galaxy is planet earth in?
The Milky Way
Avi bought a scarf, and at the end of winter, sold it for $6.55.
a) Write Avi's selling price as a fraction of the $19.95 purchase price, in simplest form.
b) Write the fraction you wrote for part a as a percentage, rounded to two decimal places.
a) $6.55/$19.95 =131/399
b) 32.83%
Avi and his family have begun planning for an overseas holiday. They have invested their savings of $16,000 for 3 years in a bank account, which offers them 5.75% p.a interest compounded annually.
a) How many compounding periods will there be in the families investment?
b) Use the compound interest formula to calculate the final value of the investment after the 3 year investment period.
a) 3
b) $16000×(1+0.0575)^3
=$16000×〖1.0575〗^3
=$18921.741…
≈$18921.74
What year was Miss Wilson born?
2000
Avi is saving to purchase a racing bike. He has saved $1980 and hopes to invest it to earn the remaining amount from interest on that investment. The best simple interest rate that he can find is 7.2% p.a
How long must Avi invest the money in order to earn the extra amount he needs? Give your answer in years, correct to one decimal place.
I needed=$2350-$1980=$370
P=$1980
r=7.2%=0.072
$370=$1980×0.072×T
$1980 x 0.072 = $142.56
$370 ÷ $142.56 = 2.595
T = 2.60
How much does the Sims 4 cost with all the expansions?
$1514.33
Find the selling price of a $60 pair of jeans that is discounted 20%.
Find the percentage the customer will pay.
100%-20%=80%
Calculate the selling price.
0.8×$60=$48
Through a store purchase plan, Avi is informed that interest is calculated as compound interest based on the amount borrowed. In this situation, would Avi be better off with a plan involving a higher frequency of compounding periods or fewer compounding periods?
As Avi is borrowing money, he would want the lower interest rate. Thus, he would be better off with a plan involving fewer compounding periods.
How many dogs does Miss Wilson have?
3 purebred golden retrievers! 1 is pregnant!