Define the following terms from Chapter 6:

contract

interest

mortgage

ordinary interest

term

annual percentage rate (APR)

finance charge

amortization

minimum payment

Read 1 Timothy 6:6-10

What is profitable?

What should we be content with?

What will happen to those who desire riches?

What is the root of all evil?

How much time in years is the following months? Use a decimal number.

15 months

24 months

30 months

If you want to buy a car for $12,000 and need to borrow the money, what will you pay in interest over 48 months at 9% interest? Use simple interest formula. At this rate, how much total would actually have paid for the car?