Fill in the correct labels for the following figure using the word bank below.
-G ____________
Definitions:
Simple Interest
Simple interest is a method of calculating the interest charge on a loan based on the original principal amount and the interest rate, without compounding over time.
Monthly Basis
A term referring to events or calculations repeated or measured every month.
Round Answers
The process of adjusting the decimal places of a number to simplify it, based on specific rounding rules.
Simple Interest
Interest calculated on the principal portion of a loan or deposit, using a simple calculation that does not compound.
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