Match the following terms with their definitions.
-Simple interest formula
A) 360 days
B) Principal times rate times time
C) Cost of borrowing
D) 365 days
E) Result of applying the U.S. rule
F) Maturity value
G) Partial payment must be applied to interest first
H) Amount due on due date
I) Amount of money borrowed
J) Consumer groups against it
Correct Answer:
Verified
Q55: Banks and other financial institutions sometimes calculate
Q56: With interest of $1,832.00 and a principal
Q57: Joyce took out a loan for $21,900
Q58: Match the following terms with their definitions.
-Adjusted
Q59: Match the following terms with their definitions.
-Principal
Q61: Use ordinary interest:
Q62: Find A and B in the
Q63: Find A and B in the
Q64: Jones of Boston borrowed $40,000, on a
Q65: Round to nearest cent or hundredth
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