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Financial Literacy Review Flashcards | StudBud
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Financial Literacy Review
Financial Literacy Review
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12 cards
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1
BRAIN BREAK!! :-)
Losers
sit,
winners play in
front
.
90
seconds
to finish!
GO!!
Pick me!
Pick me!
2
Solve for interest:
Principal saved: $13,000 / Simple interest Rate 4.5% / Time 36 months
$1,755
$175.500
$14,755
$21,060
3
When using simple and compound interest the "P" stands for
Parts
Principal
Pieces
Pay
4
What is the total cost of attending the 2 year university with a $2,200 parent contribution?
$12,700
$14,900
$10,500
5
The formula for ___________ interest is I=Prt
Simple
Compound
6
"Principal" in financial literacy is defined as _______
the interest rate charged to the account
the length of time borrowing/saving the money
the original amount invested or borrowed at the beginning
Mr. Munro
7
Solve for total:
Principal saved: $10,000 / Simple interest Rate 5% / Time 24 months
$1,000
$22,000
$11,000
$12,000
8
The formula for ______________ interest is A=P(1+r)
t
Compound
Simple
9
Solve for interest:
Principal: $8,500 / Simple Interest Rate: 6.2% / Time: 4 years
$6,392
$2,108
$21,080
$10,608
10
Solve for interest
: Principal: $15,000 / Compound Interest Rate: 4% / Time: 3 years
$16,800
$1,872
$1,800
$16,872
11
When attending college, you ________ parent contribution & scholarships from your balance due.
subtract
divide
add
multiply
12
Solve for total:
Principal saved: $10,000 / Compund interest Rate 5% / Time 24 months
$11,025
$1,025
$32,250
$22,250
