cueprepASVAB Money, Ratios, & Proportions Flashcards
Master 25 money, ratios, & proportions concepts for the ASVAB.
Question
What is the formula for calculating simple interest? (Define the variables I, P, r, and t)
Question
How is compound interest calculated differently from simple interest?
Question
You deposit $1,000 in an account paying 5% interest compounded annually. Which calculation correctly determines the balance after 2 years?
Question
An item's price is increased by 20%, then the new price is decreased by 20%. Analyze the final price relative to the original.
The final price is the original price because the percentage decrease is calculated on a amount than the increase was.
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