Simple Interest by LINDSEY BUSKIRK https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq Calculate Simple Interest and Maturity Value, Finding unknown of Simple Interest Formula, U.S. Rule- Making partial note payments before due date en-us 2018-06-27 03:57:21 UTC 2023-04-21 15:53:55 UTC hello@padlet.com https://padlet-uploads.storage.googleapis.com/297377577/6ef13178d40eb428c2e4b5fc6225abb8/images.jfif Exact interest v.s. Ordinary Interest lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685074 2018-06-27 04:17:49 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685074 Hope Slater borrowed $40,000 for office furniture. The loan was for 6 months at an annual interest rate of 4%. What are Hope’s interest and maturity value? lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685145 Using the simple interest formula, the bank determined Hope’s interest as follows:]]> 2018-06-27 04:19:14 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685145 Finding the Principal lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685297 The following formula is used to calculate the principal of a loan:]]> 2018-06-27 04:21:59 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685297 Maturity Value Formula lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685463 2018-06-27 04:24:14 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685463 Finding the Unkown lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685699 Formulas:
Principal = Interest / (Rate x Time)
Rate = Interest / (Principal x Time)
Time (yrs) = Interest / (Principal x Rate)]]> 2018-06-27 04:27:07 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685699 Finding the Unknown: lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685888 2018-06-27 04:29:05 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268685888 Rule of 72 lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268686085 2018-06-27 04:30:53 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268686085 The U.S. Rule lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268686274 The U.S. Rule allows the borrower to receive proper interest credits. This rule states that any partial loan payment first covers any interest that has built up. The remainder of the partial payment reduces the loan principal.]]> 2018-06-27 04:32:20 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268686274 Partial Payments lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268686820 2018-06-27 04:35:40 UTC https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268686820 Chapter 10 lindsey_buskirk47038 https://padlet.com/lindsey_buskirk47038/zatfcopx9ouq/wish/268687017 LU 10–1: Calculation of Simple Interest and Maturity Value


  1. Calculate simple interest and maturity value for months and years.

  2. Calculate simple interest and maturity value by (a) exact interest and (b) ordinary interest.
LU 10–2: Finding Unknown in Simple Interest Formula


  1. Using the interest formula, calculate the unknown when the other two (principal, rate, or time) are given.
LU 10–3: U.S. Rule—Making Partial Note Payments before Due Date


  1. List the steps to complete the U.S. Rule as well as calculate proper interest credits.
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