8th Grade Financial Math Review - Set #1

Front

Interest

Back

paid for the use of borrowed money

Front

Principal

Back

amount of money borrowed or invested

Front

Simple Interest Formula

Back

latex="I = P \times r \times t">

Front

Compound Interest

Back

on both the initial principal and the accumulated interest

Front

Compound Interest Formula

Back

latex="A = P(1 + \frac{r}{n})^{nt}">

Front

Budget

Back

for managing income and expenses

Front

Income

Back

received, especially on a regular basis

Front

Expense

Back

spent on goods and services

Front

Savings

Back

of income not spent on consumption

Front

Tax

Back

contribution to state revenue