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Interest calculated using the simple interest formula is called:
ASimple interest
BCompound interest
CDiscounted interest
DMarked-up interest
Answer & Solution
Correct answer: A. Simple interest
1. The formula gives its result a name.
2. An amount of money may be invested for a period of years.
3. It earns interest at an annual interest rate.
4. Interest earned according to this formula is called simple interest.
_Source: OpenStax Prealgebra 2e (CC BY 4.0), Ch 6 'Percents', sections 6.1-6.5_
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