financial literacy
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Last updated 3:42 PM on 10/28/25
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14 Terms
1
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Simple Interest
A= P( 1+ rt )
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Compound Interest
A= P( 1+ r/n )^nt
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A stands for…
A= Final Amount
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P stands for…
P= Initial Principal Balance
5
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r stands for…
r= Interest Rate
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n stands for…
of times interest applies
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t stands for…
of time periods
8
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Annual Percentage Yield (APY)
A = P(1 + r/n)^nt
9
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Loan Formula
Loan = (PMT) [1-(1+r/n)^-nt
10
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Subsidized student loan
No interest added during schooling
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Non-subsidized student loan
the simple interest (I = Prt)
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Tax
% (or rate) x income = ___
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Minimum monthly payment
rate x credit balance = ___ then compare
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Note 
Flashcards (63)