7th Grade Math - Simple Interest

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If you learn one thing about percents this week, make sure it's this: Simple Interest. If you are looking for an example of applicable math, this is it. Let's say you have a large purchase and you need to borrow money for it. Or maybe you have money and want to invest it and get some interest back, such as put it into a savings account or buy a bond. You start out with a principle amount, you add in a rate of interest and a set amount of time to complete this transaction. Using these numbers, it is possible to determine exactly how much interest will accrue during the set time period.

This can be very important when you have a long-term loan as over time, the interest could add up to more than you want to spend. Or if you are investing, you may want to know how much money you'll earn after the set time period.

Watch today's 7th grade math video on Simple Interest and let Edward Burger teach you the basics before using several examples to reinforce the lesson. Today's video has 4 lectures on it today, so make sure you click the forward button directly to the left of the timestamp to move to the next lecture and watch them all!

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This page contains a single entry by April Stockwell published on July 30, 2010 9:16 AM.

7th Grade Math - Percent Increase and Decrease was the previous entry in this blog.

7th Grade Math - Mean, Median, Mode, and Range is the next entry in this blog.

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