About This Chapter
ASVAB Math: Factoring - Chapter Summary
Use this chapter to learn about the concept of interest and how to compound interest. Watch our informative video lessons to get to know different formulas for compounding interest and then test your skills with our self-assessments. Subjects in this chapter include:
- The definition and purpose of interest
- Math problems involving money
- Formulas for compounding interest
Each video lesson has been organized by our awesome instructors in order to help you learn in the easiest way possible! Read along with the handy video transcripts and memorize every formula in preparation for the ASVAB.
ASVAB Math: Calculating Interest Chapter Objectives
The Armed Services Vocational Aptitude Battery (ASVAB) is a test that can be taken throughout the year by those looking to join the United States Military. The ASVAB is offered mainly to high school students, many of whom are enrolled in ROTC programs, and it tests a candidate's fluency in several academic fields.
In the pencil-and-paper version of the test, there are 25 multiple-choice questions in the Math Knowledge subtest that must be completed within 24 minutes. These details vary slightly in the computer version of the ASVAB, with 20 minutes allotted to answer 16 questions. The Math Knowledge section contains some questions about money and interest that this chapter is designed to prepare you for. After using this study guide, you will be able to explain the definition and purpose of interest, solve simple problems involving money, and compound interest using a variety of formulas.
1. How to Solve Problems with Money
Money matters, and knowing how much things cost will be useful no matter where you go. In this lesson, we'll learn the steps for solving word problems involving money.
2. How to Solve Interest Problems: Steps & Examples
If you want to know how your money can earn money, then it's essential to learn about solving interest problems. In this lesson, we'll practice calculating interest amounts and interest rates.
3. Compounding Interest Formulas: Calculations & Examples
Compound interest is a great way to have your money work for you. In this lesson, find out the formula for calculating compound interest and practice using the formula with several examples.
Earning College Credit
Did you know… We have over 200 college courses that prepare you to earn credit by exam that is accepted by over 1,500 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the ASVAB Mathematics Knowledge: Study Guide & Test Prep course
- ASVAB Math: Basic Arithmetic
- ASVAB Math: Math Expressions and Formulas
- ASVAB Math: Solving Math Word Problems
- ASVAB Math: Rounding Numbers and Decimals
- ASVAB Math: Fractions
- ASVAB Math: Factorials in Math
- ASVAB Math: Reciprocals
- ASVAB Math: Types of Numbers
- ASVAB Math: Patterns & Sequences
- ASVAB Math: Exponents
- ASVAB Math: Properties of Exponents
- ASVAB Math: Algebraic Expressions and Equations
- ASVAB Math: Factoring
- ASVAB Math: Quadratic Equations
- ASVAB Math: Working with Quadratic Equations
- ASVAB Math: Inequalities
- ASVAB Math: Circles
- ASVAB Math: Geometry
- About the ASVAB Test
- ASVAB Mathematics Knowledge Flashcards