
Ordinary vs Exact Interest
Quiz
•
8th - 12th Grade
•
Practice Problem
•
Easy
+2
Standards-aligned
Used 6+ times
FREE Resource
Student preview

24 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
A promissory note is
A loan you repay with one payment after a specified period of time.
A written promise to pay a certain sum of money on a specific date in the future.
The total amount you must repay for a loan.
A loan you repay over a period of time.
2.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Ordinary Interest
interest calculated based on a 360-day year
interest calculated based on a 365-day year
3.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Exact Interest
interest calculated based on a 360-day year
interest calculated based on a 365-day year
4.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Anita’s bank granted her a single-payment loan of $5,200 for 60 days to pay for her new merchandise for her candle shop. Determine the interest of the loan if the rate is 7.5% ordinary interest
$65
$5265
$64.11
$5264.11
5.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Anita’s bank granted her a single-payment loan of $5,200 for 60 days to pay for her new merchandise for her candle shop. Determine the maturity value of the loan if the rate is 7.5% ordinary interest
$65
$5265
$64.11
$5264.11
6.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Parker purchased a new surfboard that cost $500 and financed it for 100 days . Determine the interest of the loan if the rate is 8.25% exact interest.
$11.30
$511.30
$11.46
$511.46
7.
MULTIPLE CHOICE QUESTION
15 mins • 1 pt
Parker purchased a new surfboard that cost $500 and financed it for 100 days . Determine the maturity value of the loan if the rate is 8.25% exact interest.
$11.30
$511.30
$11.46
$511.46
Access all questions and much more by creating a free account
Create resources
Host any resource
Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever
or continue with

Microsoft
%20(1).png)
Apple
Others
Already have an account?
Popular Resources on Wayground
15 questions
Fractions on a Number Line
Quiz
•
3rd Grade
20 questions
Equivalent Fractions
Quiz
•
3rd Grade
25 questions
Multiplication Facts
Quiz
•
5th Grade
54 questions
Analyzing Line Graphs & Tables
Quiz
•
4th Grade
22 questions
fractions
Quiz
•
3rd Grade
20 questions
Main Idea and Details
Quiz
•
5th Grade
20 questions
Context Clues
Quiz
•
6th Grade
15 questions
Equivalent Fractions
Quiz
•
4th Grade
Discover more resources for
10 questions
Understanding Poetry and Literary Devices
Interactive video
•
4th - 8th Grade
14 questions
finding slope from a graph
Quiz
•
8th Grade
20 questions
El Verbo IR Practice
Quiz
•
9th Grade
20 questions
-AR -ER -IR present tense
Quiz
•
10th - 12th Grade
10 questions
Understanding Meiosis
Interactive video
•
6th - 10th Grade
20 questions
Laws of Exponents
Quiz
•
8th Grade
20 questions
Graphing Inequalities on a Number Line
Quiz
•
6th - 9th Grade
12 questions
8th U5L9 Linear Models
Quiz
•
8th Grade