Simple Interest

The Principal and Interest are always___________.

• Fraction

• Decimal

• Percent

• Money

Which is always calculated only on the original sum of money?

• Simple Interest

• Compound Interest

• Borrowing

• Investing

If you pay your loan quarterly how many times a year must you make your payment?

• 26

• 1

• 4

• 52

Which do you not earn interest on?

• An investment

• A loan

• A savings account.

• A cd

Convert 18 months to years.

• 18 years

• 1.5 years

• .18 years

• You cannot change it to years

What does the "I" in the interest formula stand for?

• Principal

• Interest

• Rate

• Time

per annum means

A. per month

B. per fortnight

C. weekly

D. yearly

• A

• B

• C

• D

What is another term for the original amount?

• Payment

• Per annum

• Percent

• Principal

The simple interest formula is I=PRT. What does the T represent?

• Principal

• Time, in months

• Interest

• Time, in years

Which is always calculated only on the original sum of the money?

• Simple Interest

• Compound interest

• Borrowing

• Investing