4 Simple Interest

Learning Objectives

  • Demonstrate the concept of simple interest.
  • Determine the number of days between two calendar days using the pre-programmed financial calculator method.
  • Calculate the amount of interest, principal, time, interest rate, and maturity value of investments and loans.
  • Calculate equivalent payments that replace another payment or a series of payments.
  • Use simple interest in solving problems involving business applications such as savings accounts, short term guaranteed investment certificates (GICs), treasury bills, and commercial paper.

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