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Buying a Car Mini Unit Test Review

  • Game Code: 1790959
  •  English    22     Public
    NGPF
  •   Study   Slideshow
  • the amount you are charged to borrow money
    time
    principal
    interest
  •  15
  • how long you have to pay off a loan
    principal
    interest
    time
  •  15
  • the rate at which your vehicle loses its value over time
    depreciation
    investment
  •  15
  • the amount of money you pay each month for the length of the loan
    monthly payment
    depreciation
  •  15
  • Calculate the simple interest on a $40,000 car loan taken for 7 years at 8% interest.
    $22,400
  •  15
  • What is the formula for simple interest?
    I=P/t
    I=P*r*t
  •  15
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