business math project

business math project

12th Grade

10 Qs

quiz-placeholder

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business math project

business math project

Assessment

Quiz

others

12th Grade

Practice Problem

Hard

Created by

Meera Helmi

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is a single payment loan?

is a loan that you repay with one payment after a specified period of time.

is a written promise to pay a certain sum of money on a specific date in the future.

of the loan is the total amount you must repay. It includes both the principal and the interest owed.

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a promissory note

is the amount of time for which the loan is granted.

is a loan that you repay with one payment after a specified period of time.

is a written promise to pay a certain sum of money on a specific date in the future.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

what is a loan's term?

is the amount of time for which the loan is granted.

the loan's title

is a loan that you repay with one payment after a specified period of time.

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

interest formula

principal+rate+time

principalxratextime

princial+rate+maturity value

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

ordinary interest formula

principal/time

princial+rate+time

Principal X Rate X

Time

360

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Exact interest formula

Principal × Rate X

Time

365

princialxratextime/360

principal+time

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Anita Sloane's bank granted her a single-payment loan of $7,200 for 91 days to pay for new merchandise for her candle shop. Determine the maturity value of the loan if the rate is (a) 6% ordinary interest or

(b) 6% exact interest.

7307.70

667.80

5567.80

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