Vocabulary
Simple Interest
Markup/down
100
deposit
to put money into an account
100
Alicia puts $400.00 in a bank account. Each year the account earns 5% simple interest. How much money will be in her bank account in six months?
$410
100
A toaster that cost $25.99 is marked down by 20%. How much does the toaster cost now?
$20.80
200
withdraw
remove money from account
200
José put $1,400 into a savings account. He earns 5% interest every year. How much simple interest will he earn at the end of 3 years?
$210
200
Daniel bought a computer game for $30 and later sold it to Thomas for a 30% profit. How much did Daniel sell the computer game for?
$39
300
principal
the initial amount invested
300
Input #1 93.60
Input #2 393.60
300
A golf shop pays its wholesaler $40 for a certain club, and then sells it for $70. What is the markup rate?
A. 75%
B. 7.5%
C. 85%
D. 8.5%
A. 75%
400
balance
interest plus the principal
400
C
400
The original price of a toaster is $20.00. If the toaster is marked down35%, what is the new price?
A. $4
B. $13
C. $17
D. $22
B. $13
500
simple interest
interest calculated on the principal only
500
Beth owes $40,000 in student loans. The interest rate on her loans is 6.25% per year. She will be paying these loans off for 20 years. How much will Beth pay altogether?
$90,000
500
Mary is buying new school supplies. She used a 10% off coupon on a set of markers that was originally $3.00. She also bought some paper that was 20% off. In total, Sally spent $6.00 after using her coupons. How much was the original price of the paper?
$4.13