Flashcards
Chapter 10
Cards in this deck (9)
- 1InterestPrincipalxRatexTime
- 2PrincipalThe amount that was borrowed or deposited
- 3Maturity ValuePrincipal plus interest
- 4Simple InterestInterest=Principal x rate x time
- 5Exact InterestSimple interest and using 365 days of the year
- 6Timeyears (can be fraction for days)
- 7Ordinary InterestSimple interest with 360 days
- 8Banker's Ruletime is exact days/360
- 9U.S. Ruleborrowers to receive proper interest when paying loan off
Information
- Description
- Flashcards on Chapter 10, created by DaLena Schultz on 15/09/2024.
- Created by
- DaLena Schultz
- Views
- 21
- Tags
- Rating