Long Quiz

It is a type of interest that is calculated based on the actual number of days in a year.

• Simple Interest

• Compound Interest

• Ordinary Interest

• Exact Interest

It is a type of interest that is calculated based on 360 day-calendar.

• Simple Interest

• Compound Interest

• Ordinary Interest

• Exact Interest

It is the initial amount that is either borrowed or invested.

• Interest

• Principal

• Rate

• Time

It is the unit that is being used for time in calculating the simple interest.

• Year

• Month

• Day

• Hour

It is type of interest that is calculated based on the principal amount and accumulated interest from the previous period.

• Simple Interest

• Compound Interest

• Ordinary Interest

• Exact Interest

If an interest is compounded annually, how many compounding periods are there in a year?

• One

• Two

• Four

• Twelve

An interest is compounded twice in a year. What is the compounding period used?

• Annually

• Semi-annually

• Quarterly

• Monthly

A note will run for 3.5 years and the interest will be compounded quarterly. What is the total number of compounding period of the note?

• 3.5 periods

• 12 periods

• 14 periods

• 15 periods

The percentage of return that the lender will receive is also called

• Principal

• Interest Rate

• Simple Interest

• Compound Interest

If an interest is compounded every month, how many compounding periods are there if it will take 4 years and 4 months?

• 12 periods

• 24 periods

• 48 periods

• 52 periods