Study Guide Semester One Exam - Algebra with Finance (Ch. 1 - 3)

Front

What is a disadvantage of using a check casher compared to a bank?

Back

You pay a higher fee to cash checks at a check casher than at a bank.

Front

How many tiles would be in the 5th shape of a given tile pattern if the pattern follows a specific sequence?

Back

9

Front

Calculate Chad's total weekly earnings if he earns $17.20 per hour and worked 45 hours, with double time for 5 overtime hours.

Back

$860.00

Front

What is a true statement about person-to-person payments?

Back

Person-to-person payments are usually conducted using a smartphone app rather than a computer.

Front

Write an equation to show the total amount in Valerie's checking account after x months, given a $12 monthly maintenance fee and an initial deposit of $517.

Back

y = -12x + 517.

Front

What is the formula for calculating total earnings including overtime pay?

Back

Total Earnings = (Regular Hourly Rate * Regular Hours) + (Overtime Rate * Overtime Hours)

Front

Define 'person-to-person payment'.

Back

A method of transferring money directly between individuals, often using a mobile app.

Front

What is the significance of understanding fees associated with check cashing services?

Back

It helps consumers make informed financial decisions and avoid unnecessary costs.

Front

How do you determine the number of terms in a sequence?

Back

Identify the pattern and apply the formula for the nth term.

Front

What is the difference between a checking account and a savings account?

Back

A checking account is used for daily transactions, while a savings account is intended for saving money and earning interest.