Podcast
Questions and Answers
What is simple interest?
What is simple interest?
Interest that is computed on the principal and remains constant throughout the term.
Who is a lender or creditor?
Who is a lender or creditor?
A person or institution who invests the money or makes the funds available.
Who is a borrower or debtor?
Who is a borrower or debtor?
A person or institution who owes the money or avails of the funds from the lender.
What is the origin or loan date?
What is the origin or loan date?
What is the repayment date or maturity date?
What is the repayment date or maturity date?
What is time or term (t)?
What is time or term (t)?
What is principal (P)?
What is principal (P)?
What is rate (r)?
What is rate (r)?
What is interest (I)?
What is interest (I)?
What is maturity value or future value (F)?
What is maturity value or future value (F)?
Simple Interest – interest that is computed on the ______.
Simple Interest – interest that is computed on the ______.
Lender or creditor – person (or institution) who ______ the money or makes the funds available
Lender or creditor – person (or institution) who ______ the money or makes the funds available
Borrower or debtor – person (or institution) who ______ the money or avails of the funds from the lender
Borrower or debtor – person (or institution) who ______ the money or avails of the funds from the lender
Origin or loan date – date on which money is received by the ______
Origin or loan date – date on which money is received by the ______
Maturity value or future value (F) – amount after t years that the lender receives from the ______ on the maturity date
Maturity value or future value (F) – amount after t years that the lender receives from the ______ on the maturity date
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