Simple Interest Basic Concepts教学教案.pptVIP

; Chapter 6 Simple Interest;;;The formula of simple interest is:;Example 2: calculation of the principal amount If a 3-month term deposit at a bank pays a simple interest rate of 8.5% pa. How much will have to be deposited to earn $100 of interest?;Example 3: using months as the unit of time The simple interest rate being charged on a $5000 loan is three-quarters of 1% per month. If the principal and interest are to be paid in nine months, how much interest will be charged?