What is simple interest?

Interest calculated only on the principal amount

Interest calculated on both principal and interest

Interest calculated only on the interest amount

A compulsory financial charge imposed by a government

An amount of money given to an employee as a bonus

The amount of money earned in a month

What is compound interest?

Interest calculated on both the principal and accumulated interest

Interest calculated only on the principal amount

Interest calculated only on the interest amount

What is gross salary?

The total salary before any deductions

The bonus given by the employer

The total salary after all deductions are made

The salary received after all deductions are made

The bonus given by the employer

The total salary before any deductions

What is the difference between gross salary and net salary?

Gross salary is the total salary before deductions, while net salary is the amount received after deductions

Gross salary and net salary are the same thing

Net salary includes bonuses while gross salary does not

Gross salary is the amount received after deductions, while net salary is the total salary before deductions

What is the formula for calculating compound interest?

Principal plus interest multiplied by new term

Rate plus time multiplied by interest twice

Principal minus interest multiplied by term

Interest multiplied by time multiplied by rate plus interest

What is the difference between tax and interest?

Tax is a compulsory financial charge imposed by a government, while interest is the cost of borrowing money

Tax is only applicable to businesses while interest is only applicable to individuals

Tax and interest are the same thing

Tax is the cost of borrowing money, while interest is a compulsory financial charge imposed by a government

What is the difference between simple interest and compound interest?

Simple interest is calculated only on the principal amount, while compound interest is calculated on both the principal and accumulated interest

Simple interest is applicable to short-term loans while compound interest is applicable to long-term loans

Simple interest and compound interest are the same thing

Simple interest is calculated on both the principal and accumulated interest, while compound interest is calculated only on the principal amount

Simple interest, tax, compound interest, gross salary and net salary

1. defining percent of change, discount, commission, value-added tax, and simple interest

Write question 2. Early British Actions in the Colonies In 1760, near the end of the Seven Years’ War, a new British king, George III, began his reign. During his 59-year rule, he resisted revolutionary and Napoleonic France. However, George appointed advisors to manage his more distant foreign affairs in North America. These advisors knew very little about the day-to-day lives of colonists and were soon taking actions that enraged many of them. The Proclamation of 1763 The British government faced many problems after the Seven Years’ War. One was how to protect colonists and their land claims as they pushed westward into areas settled by Indigenous groups. In his Proclamation of 1763, George III said to simply draw a line down the crest of the Appalachian Mountains and order colonists not to settle past the boundary. To colonists whose fortunes were founded on Indigenous land, the king’s order suggested tyranny, or the unjust use of government power. They argued that White colonists had already claimed most of the land east of the Appalachians and that farmers had to move west to find land. Besides, colonists and land investors had already crossed the mountains into Indigenous territory. The British government ignored colonists’ arguments. To control the frontier, it sent an additional 7,500 soldiers to the colonies. The Proclamation of 1763 would later be cited as a grievance in the Declaration of Independence. The Stamp Act The British government had other problems besides stopping colonists from encroaching on Indigenous land. Another dilemma was how to pay off the large debt from the Seven Years’ War. The solution seemed obvious to Prime Minister George Grenville, the leader of the British government. People in Great Britain were already paying taxes on everything from windows to salt. In contrast, American colonists were among the most lightly taxed people in the British Empire. It was time, said Grenville, for them to pay their fair share of the cost of Britain protecting colonists and their interests. In 1765, Grenville proposed a new act, or law, called the Stamp Act, which required colonists to buy a stamp for every piece of paper they used. Newspapers, wills, licenses, and even playing cards had to be printed on stamped paper. Again, the colonists sensed tyranny. One newspaper, The Pennsylvania Journal, said that as soon as “this shocking Act was known, it filled all British America from one End to the other, with Astonishment and Grief.” It was not just the idea of higher taxes that upset the colonists. They were willing to pay taxes passed by their own assemblies, in which their representatives could vote on them. However, because the colonists had no representatives in Parliament, they saw the Stamp Act as a violation of their rights as British subjects. For this reason, they argued Parliament had no right to tax them. “No taxation without representation!” they declared. Loyalists simply refused to buy stamps, while other colonists protested the Stamp Act by sending messages to Parliament. Patriots took more aggressive action. Protesters calling themselves the Sons of Liberty organized in 1765 and began attacking tax collectors’ homes. In Connecticut, they even started to bury one tax collector alive. Only when he heard dirt being shoveled onto his coffin did the terrified tax collector agree to resign from his post. After months of protest, Parliament repealed, or canceled, the Stamp Act. Colonists greeted the news with great celebration. Church bells rang, bands played, and everyone hoped the troubles with Great Britain were over. The Quartering Act As anger over the Stamp Act began to fade, Parliament passed another controversial law in 1765. The Quartering Act ordered colonial assemblies to provide British troops with quarters, or housing. The colonists were also told to furnish the soldiers with “candles, firing, bedding, cooking utensils, salt, vinegar, and . . . beer or cider.” Providing these things for British soldiers cost money. New Jersey protested that the new law was “as much an Act for laying taxes” on the colonists as the Stamp Act. New Yorkers asked why they should pay to keep troops in their colony during peacetime. In 1767, the New York assembly decided not to approve any funds for supplies for the British troops, forcing them to remain on their ships. In retaliation, the British government suspended New York’s assembly until it agreed to obey the Quartering Act. Once again, tempers began to rise on both sides of the Atlantic.

Simple Interest

110.31.b.17.C

Topic: Reading/Vocabulary Development

STAAR English II High School 2014 - Past Paper

110.31.b.1.B

STAAR English I High School 2017 - Past Paper

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