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Questions and Answers
What is the term for the date on which the money is received by the owner?
What is the term for the date on which the money is received by the owner?
- Loan date
- Maturity date
- Repayment date
- Origin date (correct)
What is the term for the amount of time in years for a loan or investment?
What is the term for the amount of time in years for a loan or investment?
- Rate
- Time (correct)
- Interest
- Principal
What is the term for the annual rate, usually in percent, for a loan or investment?
What is the term for the annual rate, usually in percent, for a loan or investment?
- Interest
- Rate (correct)
- Principal
- Time
What is the term for interest that is computed on the principal and also on the accumulated past interest?
What is the term for interest that is computed on the principal and also on the accumulated past interest?
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Study Notes
Financial Terminology
- Maturity Date: the date on which the money is received by the owner
- Term: the amount of time in years for a loan or investment
- Rate: the annual rate, usually in percent, for a loan or investment
- Compound Interest: interest that is computed on the principal and also on the accumulated past interest
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