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chapter7 math vocab

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