Three Factors Determine the Amount of Interest That Has Accumulated

question 115

Multiple Choice

Three factors determine the amount of interest that has accumulated. Which factor listed below is NOT applicable in determining interest accumulation?

• A) annual interest rate
• B) principal amount of the note
• C) the amount of your next payment
• D) the length of the note outstanding

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Definitions:

Triassic

A geologic period and system that spans from about 252 to 201 million years ago, marking the beginning of the Mesozoic Era.

Carboniferous

The Carboniferous is a geologic period and system that extends from about 359 to 299 million years ago, known for its vast coal deposits.

Ordovician

A geologic period and system of the Paleozoic Era, following the Cambrian and preceding the Silurian, marked by significant diversification of life.

Natural Selection

The process by which organisms better adapted to their environment tend to survive and produce more offspring.