Credit, Debt, and Financial Principals

You should always live on _______ than you make

Which one is the formula for calculating your interest payment over time?

• (price) x (interest rate) x (amount of time)

• (price) x (interest rate) + (amount of time)

• (price) + (interest rate) x (amount of time)

• (price) x (interest rate)

Calculate the interest:

Price: $250

Interest Rate: 17%

Time: 4 months

• $100

• $42.50

• $170

• $420

Calculate the interest:

Price: $70

Interest Rate: 4%

Time: 1 months

• $1.00

• $2.80

• $1.46

• $5

Financial principal two: Build a _______

How do you find the grand total of your debt?

• (price) x (interest rate) x (amount of time)

• (Interest price over time) + (initial payment)

• (Interest rate) + (initial payment)

• (Interest price over time) x (initial payment)

Calculate the GRAND DEBT TOTAL:

Price: $70

Interest Rate: 4%

Time: 1 months

• $71

• $2.80

• $1.46

• $72.80

Calculate the debt GRAND TOTAL:

Price: $250

Interest Rate: 17%

Time: 4 months

• $420

• $42.50

• $4.25

• $100

Financial principal three: Be _______ free

50% as a decimal is...?

• .05

• .50

• .005

• 5.0