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The Price of a Panasonic 3D Flat Screen Television Decreased

question 86

Multiple Choice

The price of a Panasonic 3D flat screen television decreased by 1/5. If the original price was $1,500, what is the price today?


Definitions:

Monthly Basis

pertaining to or calculated over the period of one month.

Amortized Loan

A loan with scheduled periodic payments that consist of both principal and interest, designed to pay off the debt by the end of the term.

Effective Rate

The actual interest rate earned or paid on an investment, loan, or other financial product, accounting for the effect of compounding.

Amortization Schedule

A table detailing each periodic payment on an amortizing loan, including the portion of the payment that goes toward principal and interest over the loan term.

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