📚 Part 1: Understanding Simple Interest

Remember: Simple Interest Formula: I = P × r × n

Where: I = interest earned, P = principal (starting amount), r = interest rate (as decimal), n = number of years

P = ____________________

r = ____________________

n = ____________________

I = ____________________

5% = ______

8.5% = ______

12% = ______

🧮 Part 2: Calculating Simple Interest

Interest earned = $______

Interest to pay = $______

💰 Part 3: Real-World Applications

Total amount after 18 months = $______

Option A: $2500 at 4% for 3 years

Option B: $2500 at 6% for 2 years

Better option: ____________ because ________________________________