7th_M2T2_Retest
Flashcard
•
Mathematics
•
7th Grade
•
Hard
Wayground Content
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15 questions
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1.
FLASHCARD QUESTION
Front
What is the formula for calculating simple interest?
Back
I = Prt, where I is the interest, P is the principal, r is the rate, and t is the time.
2.
FLASHCARD QUESTION
Front
What is the principal amount in an investment?
Back
The principal is the initial amount of money invested or loaned before interest.
3.
FLASHCARD QUESTION
Front
How do you calculate the total value of an investment after a certain time with simple interest?
Back
Total Value = Principal + Interest, where Interest = Prt.
4.
FLASHCARD QUESTION
Front
If you invest $200 at a simple interest rate of 3% for 5 years, what is the total value of the investment?
Back
$230.
5.
FLASHCARD QUESTION
Front
What is net worth?
Back
Net worth is the total value of all assets minus total liabilities.
6.
FLASHCARD QUESTION
Front
How do you calculate net worth?
Back
Net Worth = Total Assets - Total Liabilities.
7.
FLASHCARD QUESTION
Front
If Laney has $15,755 in school loans and $4,324.98 in credit card debt, what type of financial obligation are these?
Back
Liabilities.
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