MATH 110 Lecture Notes - Lecture 2: Interest
Document Summary
Math 110 lecture 2 simple interest; measureing distance, speed, time; Interest = principle x rate x time: or, i = prt (often, time = 1, since this refers to total period, unless otherwise stated) Using i = prt to solve for simple interest. If principle = ,000 and rate = 5% annually, then find the interest after 1 year: plug in the numbers for each of the variables, respectively, and solve for i. P = 5,000 r = 5% t = 1. Reminder: when using percentages in an equation, divide the percent by 100 to get its decimal equivalent. Since we are solving for interest, the units are in dollars. The interest at 5% for ,000 is annually. Distance = speed x time: or, d = st. Find the distance traveled for the following problems. If speed = 60 mph and time = 2 hrs, then find the distance traveled.
