Don't overthink it!
You buy three new video games a month, each worth $36.87. How much would this cost annually?
$1,327.32
What is the equation for simple interest?
I = Prt
What formula is this?
R = \frac{P (\frac{r}{n})}{1-(1+\frac{r}{n})^{-nt}}
Periodic Payment Formula
What is the formula for Compound Interest?
A = P(1+\frac{r}{n})^{nt}
You need to put a 15% down payment on a house worth $672,800. How much was the down payment?
$100,920
The new model of a sports car costs 6.1% more than the current model, and the current model is $48,000. How much of a price increase is this?
$2,928
You deposit $2,000 into an account that gains 4% simple interest over 5 years. How much money is in your account at the end of 5 years?
$2,400
What is your monthly take-home pay if you get a paycheck for $1,274.89 every two weeks?
$2,769.85 a month
Dave invests $5,000 at an interest rate of 2.16% compounded monthly, how much is in the account after 3 years?
$5,334.42
You need to put a 15% down payment on a house worth $672,800. What will be the amount of the resulting loan?
$571,880
The new model of a sports car costs 6.1% more than the current model, and the current model is $48,000. How much does the new model cost?
$50,928
Gina opened a savings account with $400 and paid simple interest at a rate of 6%. When she closed the account, she paid $100 in interest. How long was the account open for in years? (Round to 1 decimal place)
4.2 years
Mike is taking an amortized loan for $90,000 at an annual interest rate of 12% for 10 years. What's the monthly payment?
$1,291.24
Dave invests $5,000 at an interest rate of 2.16% compounded monthly, how much does he earn in interest after 3 years?
$334.42
To purchase $12,5000 worth of restaurant equipment for her business, Elsa made a down payment of $1,800 and took out a business loan for the rest. She will pay off the loan after 3 years of paying monthly payments of $374.20. What's the total amount she's going to end up paying?
$15,271.20
The new bike you want is $779.99 before tax. Tax is 8.25%, so how much will the bike cost you?
$844.34
Zach took out a loan for $5,800 and paid simple interest for 4.5 years. The total interest he paid on the loan was $2,949.30. What was his annual interest rate? (Round to 1 decimal place)
11.3%
Will took out a student loan for $12,500 at an annual interest of 4% when he had 3 years left in school. According to the terms of the loan, Will will need to make monthly payments for 5 years and the loan accrued simple interest while he was in school. What's the monthly payment if the loan was subsidized?
$230.21
How much would Joan have to invest to have $67,200 after 13 years at an interest rate of 3.74% compounded daily?
$41,326.26
To purchase $12,5000 worth of restaurant equipment for her business, Elsa made a down payment of $1,800 and took out a business loan for the rest. She will pay off the loan after 3 years of paying monthly payments of $374.20. How much interest is she going to pay on the loan?
$2,771.20
You have two coupons for a new $90 coat: 25% off or a $25 rebate. Which is better?
$25 rebate
Jake got a short-term loan of $12,300 at an annual rate of 14% for 71 days. What's the amount of the loan at the end of the 71 days?
$12,634.96
Will took out a student loan for $12,500 at an annual interest of 4% when he had 3 years left in school. According to the terms of the loan, Will will need to make monthly payments for 5 years and the loan accrued simple interest while he was in school. What's the monthly payment if the loan was unsubsidized?
$257.83
DAILY DOUBLE!
$2,000 is placed in a savings account at a rate of 4.5%, compounded semiannually. How many years would it take for the account to grow to $3,000? (round to 2 decimal places)
9.11 years
To plan for retirement, Amy deposits $1,603 quarterly in an annuity that pays 6% interest, compounded quarterly. What's the total value of the annuity in 25 years?
$473,571.28