What is defined as the investment of loan or principal which is based not only on the original amount of the loan or principal but the amount of loaned or principal plus the previous accumulated interest ?

Related Mcqs:

Which is NOT an essential element of an ordinary annuity ?

A. The amounts of all payments are equal. B. The payments are made at equal interval of time. C. The first payment is made at the beginning of the first period. D. Compound interest is paid on all amounts in the annuity....

What is considered as the basic consuming or demanding unit of a commodity ?

A. Seller B. Manufacturer C. Producer D. Buyer or consumer...

In year zero, you invest P 10,000.00 in a 15% security for 5 years. During that time, the average annual inflation is 6%. How much in terms of year zero pesos will be in the account at maturity ?

A. P 15,030.03 B. P 20,113.57 C. P 18,289.05 D. P 16,892.34...

In what method of computing depreciation where it assumes that the annual cost of depreciation is a fixed percentage of the book value at the beginning of the year ?

A. Straight line method B. Sinking fund method C. Sum-of-year digit method D. Declining balance method...

What is an accounting term that represents an inventory account adjustment ?

A. Cost of goods sold B. Cost accounting C. Standard cost D. Overhead cost...