Which of the following is NOT a method of calculating simple interest?

Which of the following is NOT a method of calculating simple interest?
A) multiplying the principal by the interest rate
B) computers of specially programmed calculators
C) simple interest tables
D) daily interest factor

Q. 2

Which of the following should be considered when deciding whether to pay off a loan early?
A) prepayment penalties
B) the amount of interest saved
C) interest that could be earned by investing the money used for early payoff
D) all of the above

Q. 3

A sum of money given at the beginning of an installment plan is known as the
A) collateral.
B) down payment.
C) deposit.
D) finance charge.

Q. 4

Which of the following is NOT a step in finding the interest from a simple interest table?
A) Divide the principal by 100 to find the number of hundreds in the principal.
B) Find the value in the table corresponding to the appropriate interest rate and time.
C) Multiply the value from the table by the number of hundreds in the principal.
D) Subtract the value from the table from the calculated interest.

Q. 5

How many days are considered to be in a year according to the ordinary interest method?
A) 365
B) 366
C) 360
D) 355

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Which of the following is NOT a method of calculating simple interest?

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