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chapter7 math vocab

QuestionAnswer
principal The initial amount of an investment or loan, Year 1: $400.00
interest A sum paid or charged for the use of money or for borrowing money. 5% interest, 400.00 x 0.05 = 20.00
balance The principal plus interest.400 + 20 + 420.00
compound inequality A statement in which two inequalities are joined by the word and or the word or. p > 4 and p ≤ 6.
compound interest When a bank pays interest on the principal and on the interest an account has earned.
consecutive integers when you count by 1s from any integer you are counting. 120, 121 are consecutive integers
interest rate the percentage of the balance that an account or investment earns in a fixed period or time. A savings account pays 2 and one fouth percent a year.
Created by: mach
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