1 .		The price paid for using money is called ____________.    principal   rate   interest   loan
2 .		_________ interest applies when interest for each year is based on the amount of the loan or investment.    compound   simple   linear   quadratic
3 .		_________ interest most often applies to savings accounts, installment loans, and credit cards and is based on the accumulated amount.    compound   simple   linear   quadratic
4 .		________ is the amount of money borrowed or invested.    interest   principal   principle   rate
5 .		__________ is the percent of the principal paid as interest per time period.    principal   interest   rate   principle
6 .		________ is the number of days, months, or years that the money is borrowed or invested.    rate   principal   time   mortgage
7 .		_________ value is the amount of the loan plus the interest.    loan   maturity   initial   opening
8 .		The ________ interest rate is the lowest rate at which money is loaned to the most preferred borrowers.    main   initial   prime   value
9 .		________ time is based on counting 30 days in each month.    exact   preferred   ordinary   common
10 .		________ time is based on counting the actual number of days in a time period.    exact   ordinary   latent   preferred
11 .		The method of lending money at ordinary interest using exact time is called the _____ _____.    customer's rule   preferred rule   standard rule   banker's rule
12 .		If money is borrowed from a bank at a simple interest rate, the bank often collects the interest, which is also called the ________ __________, at the time the loan is made.    bank discount   broker's discount   customer's discount   principle discount
13 .		In a discounted note, the amount the maker receives after subtracting the discount is called the ____________________.    profit   proceeds   maturity value   principal
14 .		A __________ discount note is made when a bank buys a promissory note from a business.    third-party   simple   promissory   corporate