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mhphall prealgebra

Chapter 7 Vocabulary

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.
Created by: magcota