What kind of interest is earned only on the principal?
Personal Financial Literacy

Quiz
•
Mathematics
•
8th Grade
•
Hard
Samuel Janzen
Used 7+ times
FREE Resource
18 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Simple
Compound
Complex
Basic
2.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
What does the letter "A" mean in A=P(1+r)^t ?
Account
Area
Allowance
Total Amount
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Time must be given in...
Days
Weeks
Months
Years
Decades
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
An additional amount of money paid or charged is...
Total
Interest
Rate
Principal
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
The original amount of money paid or charged is...
Total
Interest
Rate
Principal
6.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
What kind of interest is earned on the principal plus the interest?
Simple
Compound
Complex
Basic
7.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
Explain the difference between simple and compound interest. (Choose all that are true.)
Simple charges/earns interest on the principal and interest accrued.
Compound charges/earns interest on the principal only.
The simple interest equation calculates total amount.
The compound interest equation calculates total amount.
Simple charges/earns interest on the principal only.
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