Link to the financial planning cartoon here
1. Which is the benefit of short term financing?
- lower interest cost
- can repay in installments
- can borrow a large amount
- flexibility
2. On July 1, you deposit USD 16k at the bank at a 5% p.a. interest rate. What is earned as interest on 31.12 of the same year?
- USD 200
- USD 400
- USD 800
- USD 1200
3. After an investment period of 4 years at 5% compounded monthly, the amount is USD 2.442. What was the invested amount?
- USD 1.950
- USD 2.000
- USD 2.050
- None of the above
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