Please answer the following questions by providing a True T or False F answers only. T = True F = False

1. Ordinary interest is calculated using a 360-day year.

2. For a given dollar amount, 9% interest for 40 days will produce the same finance charge as 6% interest for 60 days.

3 The interest charge on a simple loan is the difference between its maturity value and principal.

4.The principal of a simple interest note is the difference between its maturity value and interest.

5. A money-market account is a savings account on which checks can be drawn.