Depreciation
Taxes
Interest/Savings
Mortgages
Fitness
100

Appreciation is when assets ________ in value.

increase

100

In this type of tax, you pay a higher tax rate if you make more income.

Progressive tax

100

What does "I" stand for in the formula I=Prt?

Interest

100

A loan taken out to pay for real estate is called a __________

mortgage

100

60-65% of your max heart rate is called the ______ _______ zone.

fat burning

200

Depreciation is when assets __________ in value.

decrease

200

US Federal income tax is an example of _______ tax.

progressive

200

What does P stand for in the formula I=Prt?

Principal

200

What does the "term" of the loan mean?

time (the amount of time to pay back the loan)

200

80-85% of your max heart rate is called the ________ zone

cardio

300

True or False - depreciation methods are used to calculate how much value an asset has lost over time.

True

300

Which tax is this formula used for?  

(market value) x (assessment level) x (tax rate)

Property tax

300

What is the formula for simple interest?

I=Prt

300

The difference between the market value of a home and the principal balance on the mortgage is called ________

equity

300

The formula 220-age will calculate your ______________

max heart rate

400

Which depreciation method would display a straight line when graphed?

Straight-line depreciation

400

True or false: Pennsylvania has a flat state income tax.

True (it's 3.07%)

400

Which type of interest do most savings and loans use: simple or compound?

compound interest

400

If you make additional payments on your mortgage, how will this change the term?

it will be shorter (pay it off sooner)

400
Give an example of aerobic exercises.

possible answers: running, biking, sprinting up stairs, dancing

500
The purchase price of a car is $30,000 and the salvage value is $5,000.  The useful life is 5 years.  What is the annual depreciation?

$5,000

500

Bob makes $50,000 and pays $1,000 for a certain tax. Jane makes $100,000 and pays $2,000 for that same tax. This is an example of what kind of tax?

flat tax (they both pay the same rate of 2%)

500

Interest that is calculated on both principal and accumulated interest is called __________ interest.

compound

500

There are 3 factors that affect the monthly payment of a mortgage.  One is the principal.  What are the other two?

term, and interest rate

500

Give an example of anaerobic exercise

possible answers: lifting weights, push ups

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