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Questions and Answers
Simple interest is calculated on the initial principal only.
Simple interest is calculated on the initial principal only.
True (A)
Compound interest is paid on the principal amount borrowed.
Compound interest is paid on the principal amount borrowed.
False (B)
Unpaid simple interest is subtracted from the principal.
Unpaid simple interest is subtracted from the principal.
False (B)
Compound interest is a type of simple interest.
Compound interest is a type of simple interest.
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The principal amount borrowed determines the simple interest.
The principal amount borrowed determines the simple interest.
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