WHS Sr. Math Fall Final Dec 10, 2024

Front

Calculate the gross pay for a week if you work 7.5 hours a day at $20 per hour.

Back

Gross pay = 7.5 hours/day * $20/hour * 5 days = $750.

Front

What is the formula to calculate monthly payments on an auto loan?

Back

Monthly Payment = [P * r(1 + r)^n] / [(1 + r)^n - 1], where P = principal, r = monthly interest rate, n = number of payments.

Front

If you invest $20,000 at an interest rate of 2.75% compounded quarterly for 7 years, how do you calculate the final amount?

Back

Final Amount = P(1 + r/n)^(nt), where P = principal, r = annual interest rate, n = number of times interest applied per time period, t = number of time periods.

Front

What is the unit price of an item?

Back

Unit Price = Total Price / Number of Units.

Front

How do you calculate the percent increase in value?

Back

Percent Increase = [(New Value - Old Value) / Old Value] * 100.

Front

What is the formula for calculating gross pay?

Back

Gross Pay = Hours Worked * Hourly Rate.

Front

How do you find the total cost of a loan after interest?

Back

Total Cost = Principal + Total Interest Paid.

Front

What does it mean for interest to be compounded quarterly?

Back

Interest is calculated and added to the principal four times a year.

Front

How do you calculate the interest paid on a loan?

Back

Interest Paid = Principal * Rate * Time.

Front

What is the difference between simple interest and compound interest?

Back

Simple Interest is calculated only on the principal, while Compound Interest is calculated on the principal plus any interest earned.