VOCABULARY
What does "t" represent when you find the interest owed when you borrow money?
What is time?
Emilio's father borrows $1,200 from the bank for a riding lawn mower. The interest rate is 8% per year. How much simple interest will he pay if he if he takes 2 years to repay the loan?
What is $192?
Solve. $1050 4.6% APR 2 years.
What is $96.60?
Change 69% to a decimal.
What is 0.69?
1,000 x 87 x C = 174000 What is C?
What is 2?
What is the amount paid or earned for the use/borrowing of money?
What is simple interest?
Solve. $250 2.85% APR 3 years.
What is $21.38?
Change 1.5% to a decimal.
What is .015?
A sound system has a regular price of $249. Find the total cost if it is on sale for 50% off and the sales tax is 5.75%.
What is $131.66?
What is the original amount of money deposited or invested?
What is principal?
Solve. $500 3.75% APR 1 year.
What is $18.75?
Change 2.85% to a decimal.
What is 0.0285?
Multiple Choice. A baseball cap at the mall costs $14.95. It is on sale for 30% off. What is the sale price to the nearest cent? A)$4.49 B)$10.47 C)$10.50 D)$10.65
What is B)$10.47?
What is annual interest rate written as a variable?
What is r?
*Marcus has $1,800 from his summer job to invest. Suppose he invests the $1,800 for 2 years and earns $144. What is the rate of interest?
What is 4%?
Solve. $3,000 5.5% APR 2 years.
What is $330?
Change 6.5% to a decimal.
What is 0.065?
What does I=prt stand for? (from Mon/Tue assignment)
What is simple interest=principal x rate(decimal) x time (years)?