A Contract to Discriminate Against Somebody on the Basis of Race

question 85

True/False

A contract to discriminate against somebody on the basis of race is illegal because it usually violates state and or federal statutes; if not,it is illegal as being contrary to public policy.

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Definitions:

Year-end Balance

The total amount of money in an account or on the financial statements at the conclusion of the fiscal year.

Compounded Monthly

Interest on an investment or loan calculated each month on both the initial principal and the accumulated interest from previous months.

Effective Annual Interest Rate

The effective annual interest rate considers the effects of compounding, providing a true reflection of the annual cost of borrowing over a year.

Compounded Monthly

Compounded monthly refers to the way interest is calculated on an investment or loan, with the interest added to the principal each month so that subsequent interest is earned on an increasingly larger base.