Money
Checking and Savings
Smart Shopping
Credit Cards and Loans
Random
100
What do you call the raw amount of money you earn, after working for a specific amount of time; no deductions have been removed.
Gross Income
100
How do you represent cents in the written part of a check?
As a fraction over 100
100
How do you calculate sales tax?
Cost x rate (as decimal)
100
On a credit card statement, what is balance?
The amount that is currently due at payment.
100
Name the five math teachers in the department
Ms. Beland
Ms. Hornsby
Mrs. Libby
Mr. LaFreniere
Mr. Croteau
200
What do you call the amount of money you earn on your pay checks, after deductions
Net Pay
200
Credit VS Debit, which is a payment and which is the deposit?
Debit is a payment and Credit is a deposit
200
How to do you find the unit price?
total cost / the quantity of item
200
What is a finance charge?
A fee that the credit card company charges you for using their services
200
What is Mrs. Vanderlinde's favorite color?
Pink
300
What is the difference between a Salary and earning by Commission?
Salary is a specific amount already agreed upon, whereas commission is earning based on performance.
300
What is a service charge?
A fee charged by the bank for servicing your account.
300
What is the difference between a coupon and a markdown?
A coupon can state that a certain percentage off, dollar amount off or getting free items, and you need the coupon to get the deal. However, markdowns are done in the store, which contain either a percentage/dollar amount off, and anyone can get that deal.
300
How do you calculate the Average Daily Balance?
Amount in balance / number of days
300
What two schools did Ms. Beland teach at before coming to PMHS?
Farmington and Pembroke
400
What are the two different taxes you might see on a paycheck?
Income and federal
400
What is the difference between simple and compound interest?
Simple Interest is a one time calculation, whereas compound interest find the simple interest periodically over time and that interest gets added to the total, before the next calculation is completed.
400
What is a purchasing price? (what does it include)
The amount of money it cost to purchase something, which includes the original cost and sales tax.
400
What does APR stand for?
Annual Percentage Rate
400
How long has Ms. V been working at PMHS?
4 years
500
What is the difference between commission and graduated commission?
Commission is a straight percentage of every service you provide, whereas graduated commission has different rates based on what level of service you're providing.
500
Given the compound interest formula, what do the letters mean? P, r, n, t
P = principal
r = rate
n = number of compounding periods per year
t = time
500
Is clearance a markdown, coupon, or sale?
Markdown, because it's not temporary.
500
When is it better to get a single payment loan vs an installment loan?
Single payment loans are used for low cost items that can be paid back in a reasonable amount of time.
500
When was PMHS built?
2004