courses › Finance & Money

Savings rate, what's left in the budget, simple interest, and matching time periods.

In your head, jot if needed · no calculator why?

Learn first (about 3 minutes)

Opens at level 9.

Sign in to start

skills · practice stats

From rounds of this course only: box, review and trial answers are left out. Once a skill has 40 tries, it compares your first 20 tries with your last 20.

• Savings rate par 12 s not tried yet

  worked example

  You take home $8,700 a month and save $1,305 of it. What is your savings rate, as a percent of take-home pay?

  Answer: 15%

  1. Savings rate = saved ÷ take-home pay = $1,305 ÷ $8,700 = 0.15 = 15%.

• What's left in the budget par 16 s not tried yet

  worked example

  Monthly take-home pay is $4,400. Rent is $1,570, debt payments $530, phone and internet $410, and insurance $690. How much is left? (Use a minus sign if you're short.)

  Answer: $1,200.00

  1. Expenses: $1,570 + $530 + $410 + $690 = $3,200.
  2. $4,400 − $3,200 = $1,200 left.

• Simple interest par 14 s not tried yet

  worked example

  You lend $18,000 for 2 years at simple interest. Assume a rate of 3% per year. How much interest is earned?

  Answer: $1,080.00

  1. Interest = principal × rate × years = $18,000 × 0.03 × 2 = $1,080.

• Match the time period par 10 s not tried yet

  worked example

  A meal-kit plan costs $13 a month. What does it cost per year?

  Answer: $156.00

  1. Match the period before comparing: $13 × 12 months = $156 a year.

rest ladder

Win 3 of your last 4 rounds and the course rests. A win is 90% right, within 2× the round's par. Pass the review when it comes back and the next rest is longer.

1. 1 day
2. 3 days
3. 7 days
4. 14 days
5. 30 days
6. 60 days
7. mastered · every 90 days

your rounds

No rounds yet.