1) What is the formula in computing the simple interest on a given financial transaction? a) Is = Prt b) Is = Pr2t c) Is =𝑃/𝑟𝑡 d) Is =𝑟/𝑃𝑡 2) This refers to the interest rate per conversion period. a) Compound interest b) Periodic rate c) Rate of interest d) Simple interest 3) The I in the simple interest formula stands for? a) Account balance in peso b) Interest earned in peso. c) Interest rate in decimal d) Interest rate in peso 4) The P in the simple interest formula stands for? a) Principal amount invested. b) Percentage amount invested. c) Price of borrowing money d) Principal amount earned. 5) What is another word for interest rate? a) Annual Percentage Rate b) Annual Percentage Yield c) Annual Percentage Earned d) Annual Percentage Invested

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