Loan and Borrowing Terms Quiz
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Questions and Answers

What is the annual rate, usually in percent, charged by the lender, or rate of increase of the investment?

  • Principal
  • Rate (correct)
  • Time
  • Interest

    • What is the date on which the money is received by the borrower?

  • Repayment date
  • Loan date (correct)
  • Maturity date
  • Origin date

    • What is the amount after t years that the lender receives from the borrower on the maturity date?

  • Future value
  • Maturity value (correct)
  • Principal
  • Interest

    • What is interest that is computed on the principal and then added to it?

    <p>Simple Interest</p> Signup and view all the answers

    What is the amount of money borrowed or invested on the origin date?

    <p>Principal</p> Signup and view all the answers

    What is the amount paid or earned for the use of money?

    <p>Interest</p> Signup and view all the answers

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