FA_6_Review

Front

What is the formula to calculate the slope of a line?

Back

The slope (m) is calculated using the formula m = (y2 - y1) / (x2 - x1), where (x1, y1) and (x2, y2) are two points on the line.

Front

What is simple interest?

Back

Simple interest is calculated using the formula I = PRT, where I is the interest, P is the principal amount, R is the rate of interest per year, and T is the time in years.

Front

How do you find the total amount to be paid back on a loan with simple interest?

Back

Total Amount = Principal + Interest, where Interest is calculated using the formula I = PRT.

Front

What is the minimum monthly savings needed to reach a financial goal?

Back

To find the minimum monthly savings, divide the total amount needed by the number of months until the goal is reached.

Front

What is a linear equation?

Back

A linear equation is an equation that makes a straight line when graphed. It can be written in the form y = mx + b, where m is the slope and b is the y-intercept.

Front

How do you write a linear equation from a table of values?

Back

Identify the slope (change in y/change in x) and the y-intercept (value of y when x=0) from the table, then use the slope-intercept form y = mx + b.

Front

What does the slope of a line represent?

Back

The slope represents the rate of change of y with respect to x; it indicates how steep the line is.

Front

What is the significance of the y-intercept in a linear equation?

Back

The y-intercept is the point where the line crosses the y-axis, representing the value of y when x is 0.

Front

How do you calculate interest on a loan?

Back

Interest = Principal x Rate x Time, where Principal is the amount borrowed, Rate is the interest rate, and Time is the duration in years.

Front

What is the relationship between principal, interest rate, and time in simple interest?

Back

The total interest earned or paid is directly proportional to the principal amount, the interest rate, and the time period.