Let's solve each question step-by-step: --- **Question 10:** *Unlike simple interest, compound interest is never found using a:* - **a. 365-day year** Compound interest can be calculated using a 365-day year. - **b. formula** Compound interest requires a formula for calculation. - **c. 360-day year** Sometimes, financial institutions use a 360-day year for calculations. - **d. manual compounding** Compound interest is based on interest on interest, and it is not practical to do it by "manual compounding" (i.e., without using a formula or calculation method). **Step-by-step reasoning:** Compound interest is commonly calculated using formulas, and sometimes using 360 or 365 days for the year. However, "manual compounding" is not a recognized method to calculate compound interest, because you need a systematic formula or method. **Final answer for 10:** **d. manual compounding** --- **Question 11:** *When interest is added to the principal amount and then interest is calculated on this new amount, the process is called:* - **a. present value** Present value refers to the current worth of a future sum of money. - **b. compound interest** This is when interest is calculated on the principal and any previously earned interest. - **c. simple interest** Interest is calculated only on the principal, not on previously earned interest. - **d. single interest** This term is not standard in finance. **Step-by-step reasoning:** When interest is repeatedly added to the principal and then new interest is calculated on this increased amount, it is called **compound interest**. **Final answer for 11:** **b. compound interest** --- **Summary of answers:** - **10:** d. manual compounding - **11:** b. compound interest