True or false: what changes and what does not

Exercise and reference answers

Questions

1. Statement is true

   Yes

   Statement

   The principal stays the same throughout the term.

2. Statement is true

   Yes

   Statement

   The yearly interest stays the same throughout the term.

3. Statement is true

   Yes

   Statement

   The amount grows each year.

4. Statement is true

   No

   Statement

   The yearly interest grows each year.

5. Statement is true

   Yes

   Statement

   The rate is quoted per annum.

Explanation