Annual means compounded once a year. true false

Annual means compounded once a year. TRUE.

s

Rating

3

Annual means compounded once a year. TRUE.

Added 8/31/2015 7:47:22 PM

This answer has been confirmed as correct and helpful.

Confirmed by Andrew. [8/31/2015 7:49:18 PM]

Federal Reserve Banks as well as the Federal government like to calculate simple interest based on: **Weegy:** Simple interest is calculated only on the principal amount, [ or on that portion of the principal amount that remains unpaid.The amount of simple interest is calculated according to the following formula: I_{simp} = r \cdot B_0 \cdot m where r is the period interest rate (I/m), B0 the initial balance and m the number of time periods elapsed. ] (More)

Question

Updated 3/9/2014 12:15:40 AM

1 Answer/Comment

Federal Reserve Banks as well as the Federal government like to calculate simple interest based on: EXACT INTEREST.

Added 3/9/2014 12:15:39 AM

This answer has been confirmed as correct and helpful.

The amount the bank charges for use of money is called interest.
True
False
**Weegy:**
TRUE.
The amount the bank charges for use of money is called interest. http://slater1.pageout.net/page.dyn/instructor/assessment/display_assessment?quiz_id=488661
(More)

Question

Updated 1/22/2014 10:02:41 AM

0 Answers/Comments

Joyce took out a loan for $21,900 at 12 percent on March 18, 2007, which will be due on January 9, 2008. Using ordinary interest, Joyce will pay back on Jan. 9 a total amount: **Weegy:** 21,900 x 0.12 x 297/365 = 2138.4. Add that to $21,900.00= 24 038.4. Answer is Joyce will pay back 24 038.4 (More)

Question

Updated 3/9/2014 12:17:04 AM

1 Answer/Comment

Using ordinary interest, Joyce will pay back on Jan. 9 a total amount: $24,068.10

Added 3/9/2014 12:17:04 AM

This answer has been confirmed as correct and helpful.

Compound value = $ amount divided by table factor.
True
False

Question

Updated 1/22/2014 10:00:26 AM

1 Answer/Comment

Compound value = $ amount divided by table factor. This is FALSE.

Added 1/22/2014 10:00:26 AM

This answer has been confirmed as correct and helpful.

31,211,932

questions answered

phpmicro

$152.15

Hearts 3,401 Views 691,416 Streams 242

denyang

$113.75

Hearts 3,502 Views 847,425 Streams 413

emdjay23

$110.00

Hearts 2,947 Views 605,323 Streams 217

maydj

$109.15

Hearts 3,000 Views 671,412 Streams 279

victoria3

$107.11

Hearts 2,186 Views 8,712 Streams 112

Flora1988

$83.90

Hearts 2,282 Views 311,996 Streams 147

PranaMachine

$80.97

Hearts 1,653 Views 6,405 Streams 87

wildflower14344

$69.95

Hearts 3,266 Views 1,284,359 Streams 480

There are no comments.