Fin. Math Unit 2 Review Flashcard for Final

Front

What is a checking account?

Back

A checking account is a type of bank account that allows for numerous withdrawals and deposits, and is often used for daily transactions.

Front

What are the benefits of a checking account?

Back

Benefits include keeping money safe, direct deposit, and helping track finances.

Front

What is an overdraft fee?

Back

An overdraft fee is a charge that a bank imposes when a customer withdraws more money than is available in their account.

Front

How is the balance of an account affected by overdraft fees?

Back

Each day the account is overdrawn, the balance decreases by the amount of the overdraft fee.

Front

What does the equation y = -20x - 14.80 represent?

Back

This equation represents the balance of an account after x days of incurring a $20 overdraft fee, starting from -$14.80.

Front

What is the slope in a linear equation?

Back

The slope is a measure of the steepness of a line, representing the rate of change of the dependent variable with respect to the independent variable.

Front

How do you determine the slope from two points?

Back

The slope (m) can be calculated using the formula m = (y2 - y1) / (x2 - x1).

Front

What does a negative slope indicate?

Back

A negative slope indicates that as one variable increases, the other variable decreases.

Front

What is the significance of the y-intercept in a linear equation?

Back

The y-intercept is the point where the line crosses the y-axis, representing the value of y when x is 0.

Front

What is the equation of a line in slope-intercept form?

Back

The equation of a line in slope-intercept form is y = mx + b, where m is the slope and b is the y-intercept.