Interactive practice questions
An amount of money that a financial institution (such as a bank) is willing to lend you is called what? Select all that apply.
A personal note
A
Security
B
The credit extended
C
The principal
D
Easy
< 1min
The money the borrower pays for the use of the lender's money is called what? Select all that apply.
Easy
< 1min
Fred has $\$300$$300 in a savings account.
If his account earns simple interest at a rate of $1.15%$1.15% p.a., how much interest will he earn over $2$2 years?
Easy
1min
Elizabeth has $\$1300$$1300 to put into a savings account, which earns simple interest at a rate of $0.75%$0.75% p.a.
If she wants to earn $\$20$$20 in interest, how long will she have to wait?
Easy
2min
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