You Lend a Friend $10,000 for a Year at an Annual

question 193

Multiple Choice

You lend a friend $10,000 for a year at an annual interest rate of 15%. At the end of the year your friend must pay you ________ in interest.

• A) $133
• B) $750
• C) $1,500
• D) $3,000

Analyze the implications of policy choices on potential and actual GDP.

Comprehend the influence of labor market conditions (surplus and shortage) on wage adjustments.

Understand the significance of stabilizing the economy at its potential output through appropriate policy measures.

Understand the concept and characteristics of social groups and their classification into primary and secondary groups.

---

Definitions:

Financial Position

An overview of a person's or organization's assets, liabilities, and equity at a specific point in time, showing the net worth or financial health.

Operating Budget

A detailed projection of all expected income and expenses based on forecasted sales revenue during a given period, typically a fiscal year.

Accounts Receivable

Amounts owed by customers on account.

Cash Budget

A financial plan that estimates cash inflows and outflows over a specific period, often used to assess liquidity and cash requirements.