I. MULTIPLE CHOICE: Instructions: Choose only the LETTER of the CORRECT answ space provided before the number. 15 Points 1. What interest remains constant throughout the investment term? 2. What is the difference between simple and compound interest? A. Simple yields higher interest than compound interest. B. Simple interest has a shorter term than compound interest. C. Simple interest is always better than compound interest. D. Simple interest is computed based on the principal while compour the principal and also on the accumulated past interests. 3. Which of the following formula can be used to solve for the simple interest A. I = Prt B. SI = Prt/100 C. A= P (1 + 4. Which of the following describes time or term? A. It is the date on which money is received by the borrower. B. It is the amount of time in years the money is borrowed or inves origin and maturity dates C. It is the date of which the money borrowed or loan is to be com D. It is the amount paid or learned for the use of money.​