7th_M2T2_Retest

Determine the total value of an investment with a principal of $200, a simple interest rate of 3%, and a time period of 5 years.

I = Prt

Determine the total value of an investment with a principal of $1800, a simple interest rate of 2.5%, and a time period of 20 years.

I = Prt

Determine the simple interest rate for the given principal of $500, time of 20 years, and simple interest earned of $250.

I = Prt

Determine the simple interest rate for the given principal of $850, time of 10 years, and simple interest earned of $255.

I = Prt

Is this a liability or asset? - The mortgage on your house.

Is this a liability or asset? - Money in your savings account.

Is this a liability or asset? - A car that is paid off.

Is this a liability or asset? - A loan used to pay for college.

Create a net worth statement for Laney. Laney’s accounts: school loans: $15,755, savings account: $3986.75, car: $17,600, 401(k) account: $45,390, credit card: $4324.98. What is her net worth?

Which category did the Milano family spend the most on? Use the graph to answer each question.