interest test
star
star
star
star
star
Last updated almost 2 years ago
10 questions
1
What is the basic definition of interest in business?
What is the basic definition of interest in business?
1
Which term refers to the interest that is calculated only on the initial amount that was deposited or borrowed?
Which term refers to the interest that is calculated only on the initial amount that was deposited or borrowed?
1
What does APR stand for in terms of interest?
What does APR stand for in terms of interest?
1
What impact does increasing interest rate have on borrowing?
What impact does increasing interest rate have on borrowing?
1
If you take a loan, what does Finance Charge represent?
If you take a loan, what does Finance Charge represent?
1
In the formula FC = PRT, what is represented by 'P'?
In the formula FC = PRT, what is represented by 'P'?
1
If the loan is $2000 and the add-on interest rate is 12%. What is the amount of the add-on interest for 2 years?
If the loan is $2000 and the add-on interest rate is 12%. What is the amount of the add-on interest for 2 years?
1
What is the purpose of the formula MP = (P + FC)/N in business?
What is the purpose of the formula MP = (P + FC)/N in business?
1
What is the main difference between Compound and Simple Interest?
What is the main difference between Compound and Simple Interest?
1
How does the frequency of compounding periods affect Compound Interest?
How does the frequency of compounding periods affect Compound Interest?