Simple interest rate for a term deposit implies that A.interest are calculated with respect to the initial investment in the term depositB.interest for a given compounding period is calculated with respect to the original amount invested in the term deposit plus the last interest paid.C.interest is calculated with respect to an amount that incorporates all previous interestsD.the interest rate is variable.

A term deposit offers an interest rate compounding monthlyWhich of the following statements is NOT correct?A.The value on which we calculate the monthly interest resets every month.B.The investor receives the interest on its transactional account every month.C.The interest of a given month is calculated on the value that incorporates all the past interests.D.The interest rate has to be divided by 12 to calculate the monthly interest

How is simple interest calculated?A.It is calculated on the collateral on the loan.B.It is calculated on the compound interest of the loan.C.It is calculated on the annual percentage yield.D.It is calculated on the principal amount of the loan.SUBMITarrow_backPREVIOUS

1. The rate is given as a percent (%). Before using it in the simple interest formula, you must first convert it to a______.

Which describes the difference between simple interest and compound interest?Group of answer choicesSimple interest is always a whole number. Compound interest has a decimal portion.Simple interest is calculated every period. Compound interest is calculated one time.A graph of simple interest will curve upward. A graph of compound interest will be a straight line.Simple interest is calculated on the original amount. Compound interest is calculated on the total of the original amount and any money earned in interest.

Which of the following is a definition of compound interest?Group of answer choicesA percentage of money deposited divided by the time it remains deposited.Money earned after the first balance has been figured.Interest earned both on money you deposit and on money you have earned in interest.Interest earned only on money you deposit.