It is an additional amount of money that is paid by the borrower to a lender or an investor beyond reimbursing the amount borrowed.
THE FINAN6IX RECAP QUIZ

Quiz
•
Mathematics
•
University
•
Medium
Maris Alvarez
Used 8+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Principal
Future Value
Exact Method
Interest
None of the above
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Jerich has Php 5,000.00 in his bank account which is earning 9.4%, find the future value after 10 years.
Php 9,794.00
Php 7,690.40
Php 5,940.00
Php 10,094.00
None of the above
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What method of computation of time is usually used for business purposes?
Interest
Maturity Value
Ordinary Method
Exact Method
None of the above
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The sum of the principal and the interest of loan?
Ordinary Method
Complex Interest
Maturity Value
Total Repayment
None of the above
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It is also known as the final amount to be paid.
Interest
Total Repayment
Ordinary Method
Future Value
None of the above
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the mathematical equation that we used use to calculate the simple interest?
A = P + I
A = P (1 + rt)
I = PRT
None of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
It refers to the total sum of money that was either borrowed or invested at the start of a time period.
Simple Interest
Principal
Maturity Value
Interest
None of the above
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