What is the difference between simple interest and compound interest?
A. Simple interest is calculated once a daily, and the interest is sent to you as a cashier's check. Compound interest is calculated only yearly.
B. Simple interest is calculated once a year, based on the amount balance on a specific day. Compound interest is calculated daily, monthly, quarterly, semi-annually, or annually.
C. Simple interest is calculated once a year, based on the amount balance on a specific day. Compound interest is calculated semi-annually, and the interest is mailed to you as a teller's check.
D. Simple interest is calculated once a year, and the interest is sent to you as a cashier's check. Compound interest is calculated daily, monthly, quarterly, semi-annually, or annually.
Answer: B
You might also like to view...
When the center is largely dependent on tuition for operating funds, the budget should have
at least a _____ vacancy rate built in. a. ?1% b. ?3% to 8% c. ?10% to 12% d. ?22%
____________________ rehearsal keeps information in memory for a short period of time
Fill in the blank(s) with correct word
A cornerstone of mathematics education includes ________________ because it provides opportunities for children to develop mathematical understandings within the context of their own lives
Fill in the blank(s) with correct word
A protective factor against problem behavior in adolescence is a sense of ethnic identity and being:
a. Bicultural b. Assimilated c. Acculturated d. Immersed