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Q 1/12
Score 0
If you deposit $5000 in a bank account that pays an annual interest rate of 2%, how much money will you have in your account after one year?
30
$5002
$5020
$5100
$5200
Q 2/12
Score 0
What is the principal in terms of a loan?
30
The interest accumulated on the loan
The person borrowing the money
The original amount of money borrowed or still owed
The total amount including interest
12 questions
Q.
If you deposit $5000 in a bank account that pays an annual interest rate of 2%, how much money will you have in your account after one year?
1
30 sec
Q.
What is the principal in terms of a loan?
2
30 sec
Q.
What does the term of a loan refer to?
3
30 sec
Q.
What is the term used to refer to the cost of borrowing money or the income from lending money?
4
30 sec
Q.
If you invested $5000 for 3 years at an annual interest rate of 6%, compounded annually, what will be the maturity value of your investment after 3 years?
5
30 sec
Q.
John deposited $4000 in a savings account that earns him simple interest at a rate of 2% per annum. How much interest will be added to his account after 5 years?
6
30 sec
Q.
If you deposit $2000 in a bank account that earns 4% annual compound interest, how much will you have in the account after 2 years?
7
30 sec
Q.
What is the difference between a promissory note and a loan agreement?
8
30 sec
Q.
period of time when the addition of interest and the principal occur
