Myrna Borrows $500 at an Annually Compounded Interest Rate of 8

question 176

Multiple Choice

Myrna borrows $500 at an annually compounded interest rate of 8 percent that she will repay at the end of 10 years. How much will be required to pay off the loan at the end of 10 years?

• A) $900
• B) $962.85
• C) $1,079.46
• D) $1,123.21

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Definitions:

Neutral Audience

A group of listeners or readers who have no preconceived opinions or judgments about the topic being presented.

Worried Audience

Refers to a group of people who are concerned or anxious about a certain issue, event, or presentation.

Confident Speaker

An individual who communicates with assurance, self-reliance, and without seeming nervous or hesitant.

Audience's Attention

The focus or engagement that an audience gives to a message, performance, or presentation.