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mhphall prealgebra
Chapter 7 Vocabulary
Question | Answer |
---|---|
What is balance? | Balance is the principal plus the interest. |
What is compound inequality? | Compound inequality is a statement in which 2 inequalities are joined by the word AND or the word OR. |
What is compound interest? | Compound interest is the interest a bank pays on the principal and on the interest an account has earned. |
What are consecutive integers? | Counting by 1s from any integer. Ex: 1, 2, 3, 4 |
What is interest? | Interest is an amount a bank pays an account. |
What is an interest rate? | Interest rate is a percentage set by a bank that is paid into an account. |
What is principal? | The money deposited into a bank account is called the principal. |
What is simple interest? | Simple interest is interest paid only on the principal. |