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# 8th Unit 3

### Equations and Inequalities

TermDefinition
Annual percentage rate (APR) annual percentage rate applied to the balance on a loan compounded monthly
Car title loan a high-interest, short term loan of cash for which an automobile title is required as collateral
Coefficient a number that is multiplied by a variable(s)
Collateral something which is pledged to secure repayment of a loan; in the event of default on the loan, the collateral is forfeited
Compound interest for a loan interest that is calculated on the latest balance
Compound interest for an investment interest that is calculated on the latest balance
Constant a fixed value that does not appear with a variable(s)
Credit buying or obtaining goods or services now with an agreement to pay in the future
Equation a mathematical statement composed of algebraic and/or numeric expressions set equal to each other
Inequality a mathematical statement composed of algebraic and/or numeric expressions set apart by an inequality symbol
Order of operations the rules of which calculations are performed first when simplifying an expression
Payday loan a high-interest, short term loan that is repaid when the borrower receives their next paycheck
Principal of a loan the original amount borrowed
Principal of an investment the original amount invested
Simple interest for a loan interest that is calculated only on the principal amount of the loan
Simple interest for an investment interest paid on the original principal in an account, disregarding any previously earned interest
Solution set a set of all values of the variable(s) that satisfy the equation or inequality
Variable a letter or symbol that represents a number
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