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Applied mathematics practice test MCQ: interest rate per year is 16 and compounding occurs every quarter then interest rate per compounding period is with options 0.4, 0.04, 40 and 0.004 problem solving skills for summative and formative assessment, competitive exam prep, interview questions with answer key. Free study guide is for online learning single payment computations quiz with MCQs to practice test questions with answers. Single Payment Computations Video

MCQ: Interest rate per year is 16 and compounding occurs every quarter then interest rate per compounding period is

1. 0.4
2. 0.04
3. 40
4. 0.004

B

MCQ: Nominal rate which is compounded more frequently than annually is equal to interest rate

1. compounded annually
2. compounded monthly
3. discounted annually
4. discounted monthly

A

MCQ: In formula of simple interest, definition of period implies on

1. i and n
2. p and n
3. I and P
4. p and P

A

MCQ: Interest rate per year is 24% and compounding occurs every month then interest rate per compounding period is

1. 3
2. 0.2
3. 0.02
4. 20

C

MCQ: Interest earned plus principal amount is considered as

1. semiannual amount
2. compound amount
3. discount amount
4. annual amount

B