Interest

Which of these does NOT involve interest

• Buying a house

• Credit cards

• Insurance

• Banking

the amount of money you need to pay the lender in addition to the principal

• Amortization

• Financing

• Down payment

• Interest

The original amount of money owed

• Down payment

• Principal

• APR

• Interest

True or false: You can make a profit from interest

• False

• True

What does it mean to finance?

• provide funding for

• to manage

• to bank

• to gift money

What does APR stand for?

• A Perfect Rate

• Another Pay Raise

• A Projected Raise

• Annual Percentage Rate

What does the table represent?

• A Bank Statement

• Student Loan Debt

• Amortization

True or False: When you borrow money, you want the lowest interest rate possible.

• True

• False

What is the simple interest formula?

• p=I(r/t)

• I+p=r+t

• I=prt

• I=p+r+t

the addition of interest to the principal sum of a loan, deposit, or investment

• Simple Interest

• Compound Interest

• Down Payment

• Financing