Second Mid-Quarter (General Mathematics))

What do we call the amount of money borrowed or invested?

• Interest

• Principal

• Rate

• Maturity Value

Which term refers to the extra amount paid for borrowing money?

• Loan

• Principal

• Interest

• Period

The party lending money is called the:

• Borrower

• Creditor

• Debtor

• Investor

The time from borrowing until the due date is called:

• Term

• Interest Rate

• Time of Interest

• Maturity Date

The due date of the loan or investment is called:

• Maturity Value

• Maturity Date

• Due Rate

• Principal

Simple interest is computed on:

• Principal only

• Principal plus past interest

• Maturity value

• Periodic value

The sum of the principal and interest is called:

• Future value

• Present value

• Rate

• Deposit

Which formula represents simple interest?

• I = PRT

• I = P + R + T

• I = (P × R) ÷ T

• I = M - P

The annual rate expressed in percent but converted to decimal is called:

• Time

• Interest Rate

• Maturity Date

• Period

What kind of interest is calculated on both principal and accumulated interest?

• Simple interest

• Compound interest

• Future value

• Nominal rate