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# Reviewer General Mathematics ## Final Examination **1. Interest** * **Answer:** Interest * **Explanation:** Interest refers to the amount paid or earned for the use of money. **2. Compound Interest** * **Answer:** Compound interest * **Explanation:** Compound interest is computed on the princi...

# Reviewer General Mathematics ## Final Examination **1. Interest** * **Answer:** Interest * **Explanation:** Interest refers to the amount paid or earned for the use of money. **2. Compound Interest** * **Answer:** Compound interest * **Explanation:** Compound interest is computed on the principal and then added to it. **3. Compound Interest** * **Answer:** Compound interest * **Explanation:** Compound interest involves computing on both the principal and accumulated interest. **4. Annuity** * **Answer:** Annuity * **Explanation:** Annuity refers to a sequence of payments made at equal intervals. **5. General Annuity** * **Answer:** General annuity * **Explanation:** General annuities have payment intervals that differ from interest periods. **6. Simple Annuity** * **Answer:** Simple annuity * **Explanation:** In simple annuities, the payment interval matches the interest period. **7. Ordinary Annuity** * **Answer:** Ordinary annuity * **Explanation:** Payments are made at the end of each interval in an ordinary annuity. **8. Contingent Annuity** * **Answer:** Contingent annuity * **Explanation:** Payments of a contingent annuity extend indefinitely. **9. Annuity Due** * **Answer:** Annuity due * **Explanation:** Payments for an annuity due are made at the beginning of each interval. **10. Principal** * **Answer:** Principal * **Explanation:** Principal is the original amount borrowed or invested. **11. Unknown Rate Formula** * **Answer:** $r = \frac{I}{Pt}$ * **Explanation:** The formula for finding the unknown rate is $r = \frac{I}{Pt}$. **12. Lender** * **Answer:** Lender * **Explanation:** The lender is the one who provides funds for investment or borrowing. **13. Maturity Value** * **Answer:** Maturity value * **Explanation:** Maturity value is the total amount the lender receives, including principal and interest. **14. Simple Interest Formula** * **Answer:** $I = Prt$ * **Explanation:** The formula for computing simple interest is $I = Prt$. **15. Compound Interest Formula** * **Answer:** $A = P(1 + r)^t$ * **Explanation:** The formula for compound interest is $A = P(1 + r)^t$.