New Words
What kind of card allows a user to borrow money for a purchase?
What is 10% of $30
$3
What is the simple interest formula?
I= PRT
What is extra money paid to the bank for money borrowed?
interest
If my gross income is $80,000 a year, what can I estimate my net income to be?
$56,000
What do we call the maximum amount of money a person can borrow?
Credit Limit
What is 25% of $160?
$40
$400
What do we call money borrowed from a bank?
a loan
Amora earns a gross income of $90,000 annually. What is Amora's monthly net income?
$5250
What do we call a credit card purchase?
A charge
10% of what number is 10?
100
If I borrow 10,000 at a 20% interest rate, how much in total will I pay back at the end of 3 years (including interest)?
What is a monetary fine for withdrawing more money than an account holds
overdraft fee
Miya gets paid $2500 biweekly. What is Miya's annual income?
$65,000
What do the initials ATM stand for?
Automated Teller Machine
If an item that normally costs $65 is on sale for 30% off, what is the sale price?
$45.50
If I pay $500 in interest on a loan that I borrowed for 1 year at a 2.5% interest rate, how much did I borrow?
$20,000
What do we call the amount of money in a bank account?
balance
John gets paid $75 per hour. If he works 30 hours a week, what is his annual income?
$117,000
What do we call credit that is renewed as the debt is paid off?
revolving credit
Haley used to earn $25 an hour but received a 30% increase to her hourly pay. How much does she earn per hour now?
$32.50
If I pay $700 in interest on a 8000 loan at a 2% interest rate, how long did I keep the loan for? (round to the nearest year)
4 years
What is something necessary to live?
a need
Josiah earns $130,000 gross income annually. He puts 10% of his monthly net income into his savings account and the rest into his checking account to pay bills. Rounded to the nearest dollar, how much money does Josiah put into his checking account each month?
$6825