6.5-6.7 Review

Front

What is the formula to calculate percent of change?

Back

Percent of Change = ((New Value - Old Value) / Old Value) * 100

Front

Calculate the percent of change from 6 yards to 36 yards.

Back

500% increase

Front

What is the formula for calculating interest (I)?

Back

I = P * r * t, where P = principal, r = rate, t = time

Front

If I = $60, P = $400, and r = 5%, how do you find the time (t)?

Back

t = I / (P * r) = 3 years

Front

What is the balance of an account after 4 years if $2000 is invested at 3.5% interest?

Back

$2280

Front

How do you calculate the balance of an account with simple interest?

Back

Balance = Principal + Interest

Front

What does a 56.7% decrease in meals from 120 to 52 mean?

Back

It means the number of meals decreased significantly.

Front

What is the formula to find the annual interest rate?

Back

Annual Interest Rate = (I / (P * t)) * 100

Front

If I = $17, P = $500, and t = 2 years, what is the annual interest rate?

Back

1.7%

Front

What is the definition of principal in finance?

Back

Principal is the initial amount of money invested or loaned.