Simple interest

Lessons

• Introduction
  Introduction to Simple Interest

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• 1.
  Discuss the Basic Concepts of Simple Interest

  Thomas borrowed $100 from the bank, and the bank charges 10% annual interest rate on it. How much interest does Thomas have to pay after a year?

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• 2.
  Investigate the Advantages of Borrowing Money

  Dennis borrowed $1500 with an interest rate of 10% per annum to start his business. A year later he sold his business for $3000. What is his net profit?

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• 3.
  Determine the Impact of Borrowing Money for More Than One Year

  Hailey wants to borrow $5000 from the bank. If the interest rate is 15% annually, how much interest is she expected to be paying the bank after 3 years?

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• 4.
  Analyze Different Questions relating to Simple Interest

  Nico is graduating high school and he decides to borrow $800 to go on a graduation trip to Las Vegas. He wants to borrow the money at a bank with an annual interest rate of 11% for 2 years.

  a)

  Find the interest he will pay on the loan.
  
  
  b)

  How much will he have to pay the bank at the end of the two years?
  
  

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