Mastering Banking Interest Essentials Quiz

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Mastering Banking Interest Essentials: a General level Bank Exam Prep quiz. Test your knowledge with 12 questions!
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Questions

Question 1
The initial amount of money deposited or borrowed is called:
A Principal
B Balance
C Dividend
D Interest
Question 2
Interest calculated only on the principal is known as:
A Variable interest
B Fixed interest
C Compound interest
D Simple interest
Question 3
Interest earned on both principal and accumulated interest is:
A Flat
B Simple
C Compound
D Zero
Question 4
If you borrow $1000 at 5% simple interest for one year, how much interest do you pay?
A $10
B $50
C $25
D $100
Question 5
Which term describes the cost of borrowing money?
A Interest
B Principal
C Withdrawal
D Deposit

📋 This quiz has 12 questions in total.

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