THE FINAN6IX RECAP QUIZ

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

• Principal

• Future Value

• Exact Method

• Interest

• None of the above

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

What method of computation of time is usually used for business purposes?

• Interest

• Maturity Value

• Ordinary Method

• Exact Method

• None of the above

The sum of the principal and the interest of loan?

• Ordinary Method

• Complex Interest

• Maturity Value

• Total Repayment

• None of the above

It is also known as the final amount to be paid.

• Interest

• Total Repayment

• Ordinary Method

• Future Value

• None of the above

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

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

How many days are usually used in computation for approximate days?

• 29 days

• 30 days

• 31 days

• 28 days

• None of the above

Compounding twice a year means?

• Compound Interest

• Simple Interest

• Simple Biannually

• Compound Biannually

It refers to the sum of all interest due at the end of the period be it monthly, quarterly, biannually, or annually with the principal amount always combined in the computation with the interest.

• Simple Interest

• Compound Interest

• Total Repayments

• Future Value