Module 7 Outline MATH 115 Problem Solving MODULE SEVEN (Week 7) Simple Interest (Chapter 8) Overview: Interest is an unavoidable cost of doing business. Initial start-up or expanding operations requires immediate capital investment that does not yield cash flow until a future period. Interest is the cost of accessing this capital. This module explains the basic calculations involved in determining simple interest and discounts procedures, and examines various applications of these principles to specific business situations. Learning Outcomes: Upon completion of this module, you should be able to: Calculate simple interest. Calculate the principal, rate, and time. Explain the concept of discounting a note. Reading Assignment: Miller, C.D., Salzman, S.A., & Clendenen, G. (2009). Business Mathematics (11th ed.). MA: Pearson Education, Inc., Chapters 8.

Module 7 Outline MATH 115 Problem Solving MODULE SEVEN (Week 7) Simple Interest (Chapter 8) Overview: Interest is an unavoidable cost of doing business. Initial start-up or expanding operations requires immediate capital investment that does not yield cash flow until a future period. Interest is the cost of accessing this capital. This module explains the basic calculations involved in determining simple interest and discounts procedures, and examines various applications of these principles to specific business situations. Learning Outcomes: Upon completion of this module, you should be able to: Calculate simple interest. Calculate the principal, rate, and time. Explain the concept of discounting a note. Reading Assignment: Miller, C.D., Salzman, S.A., & Clendenen, G. (2009). Business Mathematics (11th ed.). MA: Pearson Education, Inc., Chapters 8.

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