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4 Written questions

4 Multiple choice questions

  1. I = prt (Interest - principal • rate • time)
  2. The rate, usually expressed as a percent, used to calculate interest
  3. The amount of money paid for the use of borrowed money
  4. The interest calculated only on the principal

3 True/False questions

  1. BalanceThe principal plus the interest earned

          

  2. Compound InterestInterest that is paid on both the principal and also on any interest from past years.

          

  3. Percent of changeA ratio that compares a number to 100

          

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