Financial Literacy Vocab

Front

What is the principal?

Back

Beginning amount of money invested or borrowed.

Front

What is interest?

Back

price paid over time for borrowing money

Front

What is the amount accumulated?

Back

ending amount, total balance, current value

Front

Lelani borrowed $50 from Ms. Pierson and paid back $60 after 3 months. What is the principal?

Back

$50

Front

Lelani borrowed $50 from Ms. Pierson and paid back $60 after 3 months. What is the interest?

Back

The question doesn't tell us.

Front

Lelani borrowed $50 from Ms. Pierson and paid back $60 after 3 months. Amount accumulated?

Back

$60

Front

Sayge invested $500 and earned $250 in interest after 5 years. Principal?

Back

$500

Front

Sayge invested $500 and earned $250 in interest after 5 years.

Back

$250

Front

Sayge invested $500 and earned $250 in interest over 5 years. What is the accumulated amount?

Back

The question doesn't tell us.

Front

10 years ago, Jordan's parents opened a bank account that earned $700 in interest, totaling $1,800 now. What was the principal?

Back

The question doesn't tell us.