Lily's wall by Lily proverbs https://padlet.com/l_proverbs15/llbyqwq4kg7c made by me en-us 2017-11-13 19:18:20 UTC 2017-11-17 15:23:28 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Planets.png Simple interest: l_proverbs15 https://padlet.com/l_proverbs15/llbyqwq4kg7c/wish/206442194 Where the amount of interest earned is fixed over time. It is an amount you earn from the initial amount.
E.G:
Dave has 10% simple interest on his £200.00. Each year he will get 10 % of his £200.00. Find the total amount of interest in 5 years.
WORKING OUT:
10% of 200 = 20
20x5=100
ANSWER:
£200.00
Also how much would he have in 5 years.
WORKINGOUT
20x5=100(interest)
200+100=300
ANSWER
£300.00
EQUATION
simple interest = original amount x time x rate
 
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