. Conversion p - Loan date ·%-is equivalent 0.0032 0.032 is refers to the i
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:1.) Date on which money is received by the borrower.
A. Conversion period
C. Maturity date
D. Repayment date
B. Loan date
2.) 3%is equivalent to
A. 0.0032
C. 0.32
B. 0.032
D. 3.2
3.) This refers to the interest charged on the principal alone for the entire duration or period of the loan
or investment.
A. Compound interest
B. Future value
C. Interest rate
D. Simple interest
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