Borborygmus
a sum of money that is expected to be paid back with interest.
What is a loan?
the original sum of money borrowed in a loan
What is the Principal?
an interest rate on a loan or financial product that fluctuates over time
What is a variable rate?
The maximum amount of money that can be charged to a credit card.
What is a credit limit?
No calculator - What is the APR of a $100 loan, with a 1 year term that costs $9.37.
9.37%
an interest rate on a liability (such as a loan or mortgage) or an investment that remains the same for the entire life of the term or for a specific, set period.
What is a fixed rate?
Assets - Liabilities =
What is Net Worth?
a type of credit that does not require collateral
What is an unsecured loan?
This is the initial 20% of a car’s price paid upfront to reduce the amount borrowed.
What is a down payment?
No calculator. How much tip do you leave at a restaurant if the bill is $50 and you typically leave 20%?
What is $10?
Length of the loan
What is the term?
the cost of borrowing money, expressed as a percentage of the total amount owed, or the return earned on savings
What is the interest rate?
the specific mathematical process that determines how much of each installment goes toward interest versus reducing the principal balance over time
What is amortization?
The cost of borrowing money
What is interest?
What is the APR of a $375 loan with a term of 5 months, a charge of $14 and a $37 processing fee? Round to the nearest hundredth of a percent.
What is 32.64?%
(14+37)/375
then
* 12/5
a type of financing backed by a valuable asset
What is a secured loan?
a risky option for emergency cash because it needs to be repaid by your next paycheck and has a high interest rate.
What is a Payday Loan?
a type of credit where you borrow a set amount of money (a lump sum) upfront and repay it over a fixed term through scheduled, regular payments—typically monthly
What is an installment loan?
the total yearly cost of borrowing money, expressed as a percentage, which includes the nominal interest rate plus fees and other charges
What is an Annual Percentage Rate (APR)?
What is the APR of a $1024 loan with a term of 11 months, a charge of $76 and a $52 processing fee? Round to the nearest hundredth of a percent. Round to the nearest percent.
What is 11%?
Countries Represented at Burr & Burton Academy by International Students.
Come within 3.
What is 12?
a type of short-term financing that allows consumers to make purchases and pay for them in a series of installments over time, typically without interest.
What is a Buy Now Pay Later Loan (BNPL)?
Burr & Burton teams that compete for State Titles.
Come within 6.
What is 35?
16-year-old New Zealander Sam Ruthe holds the record for the fastest mile by a teenager, running on January 31, 2026. He ran it this fast. Come within 20 seconds.
What is 3:48.88 minutes?
(228.88 seconds)
How much was Mr. Zilkha charged if the APR on his payday loan was 463%. He borrowed $375 for two weeks. Round to the nearest dollar.
What is $67?