PF 2.1 Quiz
Authored by TYLER BARNA
Business
8th Grade
Used 2+ times
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15 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Principal: 10,000
Interest: 5%
Time: 5 years
Find the total loan amount (A) using the simple interest formula:
A=P(1+rt)
$10,000
$12,500
$15,000
$13,450
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of these would you expect to be higher:
Zero
Simple Interest Rate
APR
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
APR includes the simple interest plus...
Fees
Principal
Time
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How do you express 7.5% as a decimal?
0.75
0.075
0.0075
7.5
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Principal: 1,000
Interest: 5.5%
Time: 8 months
Which is the correct formula?
A = 1000(1+0.055*(8/12))
A = 1000(1+0.55*(8/12))
A = 1000(1+0.055*8)
A = 1000(1+0.55*12)
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Term
The original amount of money that you're borrowing from a lender
The amount of time a loan lasts.
The amount the lender is charging you for borrowing money.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Principal
The original amount of money that you're borrowing from a lender
The amount of time a loan lasts.
The amount the lender is charging you for borrowing money.
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