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This Consumer Math unit on Simple Interest explains Simple Interest using real life examples. I think it’s so important to explain to students that if they finance an item, they will pay more than what the item is worth. This unit includes:

  • 45 questions
  • Simple Interest Formula (I=PRT)
  • Vocab words (simple interest, rate, time, principal, credit score, credit history, employment, income, debt ration, loan size)
  • Real life examples- credit cards, cars, furniture, appliances, etc.
  • Interest Rate and Time
  • Percentage Example 
  • Calculating Simple Interest using months instead of years

I hope your students enjoy this lesson on Simple Interest, something they will use in their every day lives!

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