Ch 33: ORELA Business Education: Interest & Purchases

About This Chapter

Explore the engaging video lessons in this chapter to learn more about interest and purchases. These lessons, along with self-assessment quizzes, can enhance your preparations for the ORELA Business Education test.

ORELA Business Education: Interest & Purchases - Chapter Summary

This chapter takes an in-depth look at interest and purchases to ensure you're prepared to answer related questions on the ORELA Business Education test. After reviewing the lessons, will be ready to:

  • Describe the uses of index numbers in statistics
  • List and define various credit terms
  • Explain the payment and terms of installment purchases
  • Differentiate between deferred payment and cash price
  • Demonstrate how to calculate markup, markdown and effective annual rates
  • Calculate percentage increase and decrease
  • Share the terms and show calculations for the promissory note

Tailor the lessons to your studying needs by scrolling through the list on your right-hand sidebar, then choosing those you want to watch in any sequence. If you want to explore specific topics without watching entire videos, use timelines with clickable video tags to identify and skip to those topics.

8 Lessons in Chapter 33: ORELA Business Education: 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 ORELA Business Education: Practice & Study Guide course

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