College Math EOC Final Day 1 Practice

Front

What is the formula to calculate percentage change?

Back

Percentage Change = ((New Value - Old Value) / Old Value) * 100

Front

How do you calculate the total cost of a meal including tax?

Back

Total Cost = Meal Cost + (Meal Cost * Tax Rate)

Front

What is a down payment in real estate?

Back

A down payment is an initial upfront payment made when purchasing a property, typically expressed as a percentage of the purchase price.

Front

How do you calculate monthly loan payments?

Back

Use the formula: M = P[r(1+r)^n] / [(1+r)^n – 1], where M is the total monthly mortgage payment, P is the loan principal, r is the monthly interest rate, and n is the number of payments.

Front

What is the marginal tax rate?

Back

The marginal tax rate is the rate at which the last dollar of income is taxed, reflecting the tax rate applied to the next dollar of income.

Front

How do you calculate total interest paid on a loan?

Back

Total Interest = (Monthly Payment * Number of Payments) - Loan Amount

Front

What is the significance of a Roth 401(k) in retirement planning?

Back

Contributions to a Roth 401(k) are made with after-tax dollars, allowing for tax-free withdrawals in retirement.

Front

What is the difference between a regular 401(k) and a Roth 401(k)?

Back

A regular 401(k) allows pre-tax contributions, leading to taxable withdrawals, while a Roth 401(k) allows after-tax contributions, leading to tax-free withdrawals.

Front

How do you determine the total amount paid for a loan?

Back

Total Amount Paid = Monthly Payment * Total Number of Payments.

Front

What is the formula for calculating simple interest?

Back

Simple Interest = Principal x Rate x Time.