Evaluate

question 241

Short Answer

Evaluate .

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Definitions:

Annum

A Latin word that means "year," often used to denote a period of time equal to one calendar year.

Repaid

The act of paying back money that was borrowed.

Interest Rate

The portion of borrowed funds or capital utilized that incurs a cost, traditionally mentioned as a percentage for each year.

Loan

A financial agreement where a lender provides funds to a borrower, who agrees to repay the amount with additional interest over a defined period.