HW Due 12-1-15

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?