Question and answer
Interest is equal to:
Question
Asked 3/25/2012 1:36:38 PM
Updated 2/2/2020 1:09:56 PM
4 Answers/Comments
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User: Interest is equal to:

Weegy: Interest is equal to Base/Interest Rate.
patmarone|Points 4198|

User: Amount charged for use of bank's money is called

User: Simple interest usually represents a loan of:

Weegy: Simple interest loans are those loans in which interest is paid on the unpaid loan balance.
piash|Points 1735|

User: A note dated August 18 and due on March 9 runs for exactly: (Points : 1) 230 days 227 days 272 days 203 days None of these

Weegy: 203 days. A note dated August 18 and due on March 9 runs for exactly 203 days.
migzptz|Points 5500|

User: Given interest of $11,900 at 6 percent for 50 days

User: Which of the following is not true of the U.S. Rule: (Points : 1) Calculate interest on principal from date of loan to date of 1st payment Allows borrower to receive proper interest credits Can use 360 days in its calculations Can involve more than 1 payment before maturity date None of these

Weegy: Can involve more than 1 payment before maturity date
Expert answered|denesfin|Points 0|

Question
Asked 3/25/2012 1:36:38 PM
Updated 2/2/2020 1:09:56 PM
4 Answers/Comments
New answers
Rating
8
Amount charged for use of bank's money is called interest.
Added 2/2/2020 12:53:09 PM
This answer has been confirmed as correct and helpful.
8
Interest is equal to = Principal × rate × time.
Added 2/2/2020 1:02:55 PM
This answer has been confirmed as correct and helpful.
8
Simple interest usually represents a loan of: One year or less.
Added 2/2/2020 1:06:27 PM
This answer has been confirmed as correct and helpful.
8
The following is not true of the U.S. Rule: None of these.
Added 2/2/2020 1:09:56 PM
This answer has been confirmed as correct and helpful.
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