ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the amount of money borrowed or deposited
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the percent interest for his year
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the head administrator of a school
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the amount the bank owes you for being a customer at their bank
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Detailed explanation-1: -P = Principal Amount. I = Interest Amount. r = Rate of Interest per year in decimal; r = R/100. R = Rate of Interest per year as a percent; R = r * 100.
Detailed explanation-2: -Principal: The principal is the original amount borrowed for a loan or the original amount invested. Interest rate: The interest rate is the proportion of the principal that is added to the principal at each time period.
Detailed explanation-3: -The principle is A) the amount of money borrowed or deposited. ‘I’ represents simple interest. ‘R’ represents the rate of interest. ‘T’ represents the amount of time.
Detailed explanation-4: -Compound interest is interest calculated on the initial principal, which also includes all of the accumulated interest from previous periods.