Business Math (2nd 9 weeks Test)
Flashcard
•
Life Skills
•
12th Grade
•
Practice Problem
•
Hard
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34 questions
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1.
FLASHCARD QUESTION
Front
The simple interest formula is I=Prt. What does the t represent?
Back
Time
2.
FLASHCARD QUESTION
Front
This is the cost of using some other person's or bank's money.
Back
Interest
3.
FLASHCARD QUESTION
Front
Which vocabulary term below, describes how much money is added to a loan or a savings account? Options: Interest accrued/earned, Interest rate, Principal, Percent Equation
Back
Interest accrued/earned
4.
FLASHCARD QUESTION
Front
What vocabulary word describes the $5,000 loan Sarah got for her kitchen renovation at an interest rate of 5.5%?
Back
Principal
5.
FLASHCARD QUESTION
Front
Which vocabulary term describes the percentage in a simple interest percent equation problem?
Back
Interest Rate
6.
FLASHCARD QUESTION
Front
What does P stand for in I = Prt ?
Back
principal
7.
FLASHCARD QUESTION
Front
What is important about how time is calculated in I= Prt?
Back
it must be in years
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