In this lesson on simple interest, Professor Perez explains the formula I = PRT (where I is the interest, P is the principal, R is the interest rate, and T is the time in years) and walks through several word problems. He also covers how to convert days to years when calculating interest, and emphasizes the importance of being careful with the given time frame. By the end of the lesson, students will have a solid understanding of how to calculate interest on simple loans or investments.
Word problems about finding interest on money that was invested.
Created by and copyright of Larry Perez. Funded by the state of California through Saddleback College. More information on videos, resources, and lessons at Algebra2Go.