5th Six Weeks MMA Test

What is the money paid by the borrower to the lender for the use of the lender's money called?

• credit

• principal

• interest

• income

• tax

What is the amount of money a person can earn by being self-employed or by doing a job for another person or business?

• credit

• income

• capital

• salary

What is a plan that helps you save money regularly, so you can reach your goals?

• savings plan

• credit plan

• spending plan

• labor plan

What is it called to obtain by paying money for an item or a service?

• steal

• borrow

• purchase

• confiscate

You are a salesperson at TownEast Ford and you make $9.50 an hour. Based on a 5-day work week, 8-hour workday, and 52-week year, determine your annual gross salary.

What is your net pay if your gross pay is $10,000 for a pay period with $3500 in deductions?

A new car is purchased for $20,300. The value of the car depreciates at 8.75% per year. What will the value of the car be after 12 years to the nearest dollar?  $A\left(t\right)=A\left(1\pm r\right)^t$  

If $8300 is placed in a savings account with an annual interest rate of 6%, how much will be the account after 12 years, to the nearest cent? $A\left(t\right)=A\left(1\pm r\right)^t$  

Suppose a town has a population of 10,000 and grows at a 2.5% rate every year. What will the population be after 7 years, to nearest whole number?

• 11,887

• 47,684

• 6,103,516

• 11,843

Which country has the closest series percentage as two of the other countries combined?

• N. America

• Asia

• Europe

• Australia

• S. America