Convert to a Ratio: 100

question 28

Short Answer

Convert to a ratio: 100%.

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Definitions:

Compounded Quarterly

The process where interest is added to the principal sum of a deposit or loan every quarter, so that the added interest also earns interest from then on.

Final Payment

The last payment made to settle the balance of a financial obligation, such as a loan or mortgage.

Borrower

An individual, company, or institution that receives funds from a lender under the condition of paying back the borrowed amount plus interest.

Compounded Monthly

Interest calculated monthly on the principal sum plus previously earned interest.