Unit 5

Question 1

Simple Interest

[I]

Answer 1

A consistent amount of money paid or earned for the use of money.

Question 2

Principal

[P]

Answer 2

Initial amount of money (borrowed or deposited).

Question 3

Interest Rate

[R]

Answer 3

The percentage of the loan amount (over a length of time) that a borrower must pay for the use of money.

Question 4

Time

[T]

Answer 4

How long it takes to pay back a loan.

Question 5

Gratuity

(Tip)

Answer 5

An amount of money a customer usually pays to work who provides a service, in addition to the due payment.

Question 6

Commision

Answer 6

An additional amount of money earned by an employee based on their number of sales. Realtor

Question 7

Tax

Answer 7

A sum of money you are charged by the government for the purchase of goods and services (in addition to the actual price).

Question 8

Fee

Answer 8

An amount of money you are charged for proceeding

( such as shipping & handling ) or for a payment past due date.

Question 9

Disturbutive Property

Answer 9

Multiplying a number is the same as multiplying it’s addends by a number then adding the products.