When Calculating Ordinary Interest, the Denominator of the Time Fraction

question 14

Multiple Choice

When calculating ordinary interest, the denominator of the time fraction will be:

• A) exact days per month
• B) 365
• C) 30 days per month
• D) 360

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Definitions:

Graph

A plot that illustrates the relationship between two or more variables, typically used in mathematics to display functions or data sets.

Vertices

Points where two or more curves, lines, or edges meet; in geometry, it is the corner points of polygons and polyhedra.

Ellipse

A set of points in a plane such that the sum of the distances from two fixed points (foci) to any point on the ellipse is constant.

Center

The middle point of a geometric figure, which is equidistant from all boundary points in the case of a circle or sphere.