BUSINESS MATHEMATICS QUESTIONS WITH
CORRECT VERIFIED ANSWERS 2024, DOCUMENT
MADE TO BOOST AND EASE YOUR STUDY, RATED
A+, VERIFIED BY PROFESSIONALS
Two types of loan - ANSWER Consumer loan and business loan
given to retail customer or individuals for personal purposes - ANSWER consumer loan
business loan - ANSWER beat in a companies or business enter price to finance their business operating
cost like cooperate loan
mortgage - ANSWER a long term loan; usually applied when purchasing a home land or business
types of mortgage - ANSWER adjustable rate mortgage and variable rate mortgage
adjustable rate mortgage and variable rate mortgage - ANSWER to namea few to compensate the lender
preference in effort to dampen inflation
simple interest - ANSWER most common calculated on short term loans
interest - ANSWER the fee or rent that lenders charge to borrowers for the temporary use
principal - ANSWER the amount borrowed
P - ANSWER Principal amount of the loans or investment
, R - ANSWER annual rate or simple interest
T - ANSWER time period of the loan or investment
I - ANSWER amount of interest paid or received
F
maturity value of the loan investment - ANSWER F
approximate time - ANSWER uses 30 days in every month
actual time - ANSWER uses the exact numbers of days in every specific month
exact interest - ANSWER computed in a 365 days in a year
ordinary interest - ANSWER computed based on 360 days in a year
incremental commission or graduated commission - ANSWER a commission given to salesperson who do
not receive a regular salary
salary plus commission - ANSWER when an employee being paid an guaranteed salary plus commission
commission and bonus - ANSWER when a salesperson is given a bunos
commission with override - ANSWER when a salesperson earns community on his/ her own sales also
earn commission from the sales of his/her representative
draw against commission - ANSWER when a salesperson is being paid in advance of sales
CORRECT VERIFIED ANSWERS 2024, DOCUMENT
MADE TO BOOST AND EASE YOUR STUDY, RATED
A+, VERIFIED BY PROFESSIONALS
Two types of loan - ANSWER Consumer loan and business loan
given to retail customer or individuals for personal purposes - ANSWER consumer loan
business loan - ANSWER beat in a companies or business enter price to finance their business operating
cost like cooperate loan
mortgage - ANSWER a long term loan; usually applied when purchasing a home land or business
types of mortgage - ANSWER adjustable rate mortgage and variable rate mortgage
adjustable rate mortgage and variable rate mortgage - ANSWER to namea few to compensate the lender
preference in effort to dampen inflation
simple interest - ANSWER most common calculated on short term loans
interest - ANSWER the fee or rent that lenders charge to borrowers for the temporary use
principal - ANSWER the amount borrowed
P - ANSWER Principal amount of the loans or investment
, R - ANSWER annual rate or simple interest
T - ANSWER time period of the loan or investment
I - ANSWER amount of interest paid or received
F
maturity value of the loan investment - ANSWER F
approximate time - ANSWER uses 30 days in every month
actual time - ANSWER uses the exact numbers of days in every specific month
exact interest - ANSWER computed in a 365 days in a year
ordinary interest - ANSWER computed based on 360 days in a year
incremental commission or graduated commission - ANSWER a commission given to salesperson who do
not receive a regular salary
salary plus commission - ANSWER when an employee being paid an guaranteed salary plus commission
commission and bonus - ANSWER when a salesperson is given a bunos
commission with override - ANSWER when a salesperson earns community on his/ her own sales also
earn commission from the sales of his/her representative
draw against commission - ANSWER when a salesperson is being paid in advance of sales
