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TYPE ANSWERS 1. Differentiate between simple and compound interest; know how to calculate each (investment perspective) Understand important considerations...

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Finance

TYPE ANSWERS

1.

  • Differentiate between simple and compound interest; know how tocalculate each (investment perspective)

  • Understand important considerations of how to allocate cash,such as liquidity, safety, convenience, etc.

  • Know what credit is, and the different ways it is utilized incontemporary society; understand basic

    terminology associated with credit, and understand advantagesand disadvantages of credit

  • Know what a credit report is, and be able to identify componentsinvolved in calculating credit scores

Answer & Explanation Solved by verified expert
4.0 Ratings (709 Votes)
Simple interest is simply the interest calculated on the principal alone While compound interest is the interest calculated on the principal and the accrued interest as well For example if P is the loan R is the rate of interest and T is the time of the loan then amount to be paid back as per both    See Answer
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Transcribed Image Text

TYPE ANSWERS1.Differentiate between simple and compound interest; know how tocalculate each (investment perspective)Understand important considerations of how to allocate cash,such as liquidity, safety, convenience, etc.Know what credit is, and the different ways it is utilized incontemporary society; understand basicterminology associated with credit, and understand advantagesand disadvantages of creditKnow what a credit report is, and be able to identify componentsinvolved in calculating credit scores

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