Midterm Study Guide - FinLit

Midterm Study Guide - FinLit

26 Qs

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Midterm Study Guide - FinLit

Midterm Study Guide - FinLit

Assessment

Quiz

others

Practice Problem

Hard

Created by

Carmen Fife

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26 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

It is better to receive compound interest than pay it.

Yes
No
Maybe

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Simple interest is calculated on

principal
principal + interest

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Compound interest is interest that is paid (or received) on

principal only
principal + interest

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Interest is a sum paid or charged for the use of money or for borrowing.

True
False

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The amount borrowed (I sometimes say the original amount of the loan) is

principal
optimal
oatmeal
lender

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A loan to purchase a house and/or land is known as a

mortgage
lender
principal

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Person or company who loans money

Lender
Principal
Mortgage
Borrower

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