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4 Written questions

4 Multiple choice questions

  1. Interest that is paid on both the principal and also on any interest from past years.
  2. The original amount deposited or borrowed
  3. Simple interest is only calculated on the original balance, but compound interest is calculated on the principal plus the annual balance
  4. The principal plus the interest earned

3 True/False questions

  1. Simple InterestThe interest calculated only on the principal


  2. PercentThe amount of money paid for the use of borrowed money


  3. Percent of changeThe percent a quantity increases or decreases from its original amount


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