Lightning Round
What is the formula used to calculate simple interest?
What is I=P*R*T
You want shoes that cost $215 today. You save $215 in a drawer. If inflation is at 8%, what will those shoes cost next year?
What is 232.20
You want a jacket that cost $309 today. You save $309 in a drawer. If inflation is at 11% what will it cost next year?
What is $342.99
Four months ago, a round trip flight from Houston to Costa Rica cost $595. Travel costs are now at 13%. What is the new cost of the ticket?
What is 672.35
You buy an IPhone for $1,174 on credit w/ a 48-month plan at a 9% annual simple interest rate. How much will that IPhone ultimately cost?
What is $1,596.64