This document provides an overview of simple interest concepts including: - Financial institutions borrow and lend money, charging interest to borrowers and paying interest to depositors. - The interest rate paid to depositors is usually lower than the rate charged to borrowers, allowing the financial institution to make a profit. - Simple interest is calculated using the formula I = Prt, where I is interest, P is principal, r is the interest rate, and t is time. Changing these variables impacts the amount of interest. - Examples are provided to demonstrate calculating simple interest for deposits and solving for interest rates.

1. Consumer Math 30S Unit 1 – Income & Debt Simple Interest

4. Unit 1 – Income & Debt

7. Unit 1 – Income & Debt Simple Interest Triangle I = Prt P = I rt R = I Pt t = I Pr

10. Unit 1 – Income & Debt Simple Interest Online mental math activity http://www.aaamath.com/B/g84_six1.htm

11. Unit 1 – Income & Debt Textbook Assignment: Page 32 – 33 Questions 1 - 7

12. Unit 1 – Income & Debt Simple Interest Review Worksheet Questions 1 - 8