1 .		Which months have 30 days?    August, June, September, November   May, April, June, November   April, June, September, November   February, June, September, November
2 .		Write 6 3/4% as a decimal.    6.75   0.675   67.5   0.0675
3 .		A loan made on July 15 was repaid on October 22. What is the time of the loan?    98 days   95 days   99 days   94 days
4 .		Mary Watts borrowed $562 on June 24 for sixty days with a 365 day year. What is the date of repayment or the maturity date?    August 24   August 22   August 25   August 23
5 .		Convert 7 months to a decimal part of a year.    0.714   0.583   1.714   0.0583
6 .		Use the simple interest formula to find the rate on an $1,800 loan for which the interest was $20 for 40 days (use a 360-day year).    10%   20%   1.0%   0.1%
7 .		Which is the correct formula for time using the simple interest formula?    T = I x P x T   T = I /( P x R)   T = P/(I x R)   T = R/(I x P)
8 .		How many days are in a year for exact interest?    360   366   359   365
9 .		Find the bank discount and proceeds using ordinary interest on a note of $3,000 at 10% for 36 days.    $300, $2,700   $30, $3,030   $30, $2,970   $3, $2,997
10 .		Find the total amount repaid for a loan for $200 at 5% simple interest for 72 days using a 360-day year.    $220   $202   $204   $240