Entering the World of Work

Section 1: Your Training Options

Math Practice Step-by-Step

Follow these steps to solve the Section 4.1 Math Practice problem.

Calculating Loan Interest
Figure It Out  How much will you owe after six more months? Use the amount you owe after six months as the principal.

Step 1  You need to multiply the principal by the interest rate by the time. First rewrite the interest rate and the time as decimals.

Step 2  Multiply the principal ($5,206.25) by the interest rate by the time.

Step 3  Add the interest to the principal. This is the answer to the second question.