Quarter 3

    In Quarter 3, we learned about ratio, propotion and percent.

But I like to talk about simple interest. Interest is the amount paid for the use of money. Principal is the amount of money you borrow or deposit. When the interestis paid only on the principal, it is called simple interest.the percent of the principal you pay or earnis the annual interest rate.

    Way to find the simple interest:

        I = P R T

    Real life example:

        You have $10000, and you put it in the bank, the rate is 4.5% per year. How much you will earn after 2 years?

        I = P R T

          = ($10000) (4.5%) (2)

          = (10000) (0.045) (2)

          = (10000) (0.09)

          = $ 900

Answer: You will earn $ 900 after 2 years.