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Solve Simple Interest Problems

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Solve Simple Interest Problems

TEKS Math: 7.13.E

(E) Calculate and compare simple interest and compound interest earnings

CCSS Math: 7.RP.3

7.RP.3 Use proportional relationships to solve multistep ratio and percent problems. Examples: simple interest, tax, markups and markdowns, gratuities and commissions, fees, percent increase and decrease, percent error.

This number sense lesson focuses on solving simple interest problems. The lesson includes research-based strategies and strategic questions that prepare students for assessments. In this lesson, students write the known values for the interest formula by converting the rate (percent) to a decimal and the time/term (t) to years, if needed. Then, they substitute the known values in the formula and solve for simple interest. Finally, they interpret the answer. In addition to the lesson, there are seven pages of Independent Practice and review with questions modeled after current adaptive testing items.

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Standard Alignments:

TEKS Math: 7.13.E

(E) Calculate and compare simple interest and compound interest earnings

CCSS Math: 7.RP.3

7.RP.3 Use proportional relationships to solve multistep ratio and percent problems. Examples: simple interest, tax, markups and markdowns, gratuities and commissions, fees, percent increase and decrease, percent error.


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