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Ch 36: MTEL Business: Interest & Purchases

About This Chapter

Use this chapter to improve you chances of success on the MTEL Business assessment. Brush up on your knowledge of interest and purchases by exploring lessons that cover credit terms, installment purchases and more.

MTEL Business: Interest & Purchases - Chapter Summary

When studying for the MTEL Business assessment, you want to feel confident that you know what to expect on exam day. This chapter explores interest and purchases, one of several exam topics. Review the lessons to prepare for questions that have to do with:

  • Using index numbers in statistics
  • Identifying and defining credit terms, including due date and invoice date
  • Examining the payments and terms of installment purchases
  • Calculating deferred payment vs. cash price, markup and markdown
  • Understanding the formula for effective annual rates
  • Analyzing and calculating percentage increases and decreases
  • Describing the terms and calculations of the promissory note

This chapter offers a number of benefits. You can access expert instructors from the comfort of your home or on-the-go via your mobile devices. Submit any questions about lesson topics to experienced educators who can provide the clarity you need.

8 Lessons in Chapter 36: MTEL Business: Interest & Purchases
Test your knowledge with a 30-question chapter practice test
Index Numbers in Statistics: Uses & Examples

1. Index Numbers in Statistics: Uses & Examples

Watch this video lesson to learn what index numbers are. Learn how useful this statistical number is in the real world. You will also see some index numbers that we use and probably hear every day.

Credit Terms: Due Date, Invoice Date & EOM

2. Credit Terms: Due Date, Invoice Date & EOM

After watching this video lesson, you will understand some of the key terms that companies use on the invoices that they send to you. Learn how to pay your invoices according to these terms so you aren't late.

Installment Purchases: Payment & Terms

3. Installment Purchases: Payment & Terms

After watching this video lesson, you will know how installment purchases work. Learn how you can calculate the amount of your fixed installment payment.

Deferred Payment vs. Cash Price: Calculation & Interest

4. Deferred Payment vs. Cash Price: Calculation & Interest

Watch this video lesson to learn the difference between paying cash up front for an item versus making payments at a later time for an item. Watch and see how you may end up paying more for an item if you pay later.

Markup & Markdown: Calculation & Examples

5. Markup & Markdown: Calculation & Examples

After watching this video lesson, you will become familiar with how stores price their products to make a profit. Learn about how they increase their prices, markup, and how they decrease their prices, markdown.

Effective Annual Rate: Formula & Calculations

6. Effective Annual Rate: Formula & Calculations

After watching this video lesson, you will understand how the interest rate that financial institutions, such as credit card companies, give you work. Also, learn how this interest rate may be different than the one you actually end up with.

Percentage Increase and Decrease: Calculation and Examples

7. Percentage Increase and Decrease: Calculation and Examples

After watching this video lesson, you will be able to calculate the percentage increase and decrease of changes that happen over time. You will also learn what you need in order to make your calculations.

Promissory Note: Terms & Calculations

8. Promissory Note: Terms & Calculations

Watch this video lesson, and you will learn how some promissory notes, such as mortgages, can be sold and why they are sold. Learn about the terms or conditions that go into such a note and how money is made with these notes.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
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Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the MTEL Business (19): Practice & Study Guide course

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