Dear girls and boys,
Oops, I made a mistake, last lesson was NOT the final lesson,
this one is! Sorry.
This lesson is about interest earned or paid. It is based on percents so that is why this lesson is in this chapter on PERCENTS. Interest can be made when save money in a bank, the bank pays a small interest to you for letting them use your money, or it can be paid out if you take out a loan. So you will need to figure the interest rate and then either add to the balance or subtract from the balance. There are several vocabulary terms for this lesson. Principal is the first term and No, it is not Mr Riley. When you are talking money, principal is the money either deposited or borrowed. Simple Interest is the money paid or earned from that loan or deposit. There is a universal formula on how to figure out interest. This is I = PRT. In words, this is Interest = Principal * Rate * Time. We will go over this in class as well as the videos. Ask QUESTIONS!!!!
And meet Raven, Callie's little kitty.... I think you need to look hard to find her!
Homework: Read the blog, watch the videos and take notes in your graphic organizer.
As always in MATH,
Mrs M
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