What this lesson teaches
Simple interest formula.
Calculate simple interest for different loans!
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Simple interest formula.
Calculating interest for real-world loan scenarios creates financial awareness with personal stakes. Students who apply interest formulas to amounts they might realistically borrow or save are significantly more likely to remember and use the formula than those who work with abstract numbers.
1. Write formula SI = PRT/100. 2. Calculate for P=1000 R=10 T=2. 3. Try 5 examples. 4. Find total amount.