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4 Written questions
4 Multiple choice questions
 Simple interest is only calculated on the original balance, but compound interest is calculated on the principal plus the annual balance
 The percent a quantity increases or decreases from its original amount
 I = prt (Interest  principal • rate • time)
 The original amount deposited or borrowed
3 True/False questions

Balance → The principal plus the interest earned

Formula for Compound Interest → B = P(1 + r)n (Balance = Principal (1 + rate) ^ time

Percent → A ratio that compares a number to 100