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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. The rate, usually expressed as a percent, used to calculate interest
  4. The amount of money paid for the use of borrowed money

3 True/False questions

  1. BalanceThe principal plus the interest earned


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


  3. What is the difference between Compound and Simple Interest?B = P(1 + r)n (Balance = Principal (1 + rate) ^ time