Directions: Answer the following qustions. Also write at least five examples of your own.

Q 1: The agreement between lender and borrower about interest to be calculated is called _______. Interest Profit Principal Rate of Interest

Q 2: The extra money that is repaid to the lender in addition to the money borrowed is called _____. Amount Extra Principal Interest

Q 3: The total money which is repaid to the lender at the end of agreed time is called ___ Amount (Total Amount) Principal Interest Rate

Q 4: Find interest on $75 for 9 months at the rate of 2 cents per month per dollar. $14.40 $15.30 $12.75 $13.50

Q 5: A person borrowed $500 at the rate of 3 cents per month per dollar and repaid the amount after 6 months. How much did he repay? $410 $500 $545 $590

Q 6: A=P+_?_ I L R T

Q 7: Amount = Principal + _____ Interest Loss Rate Principal

Q 8: Interest is ________ proportional to the principal, rate of interest and time period. inversely not directly

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Question 10: This question is available to subscribers only!