You Lend a Friend $20,000 for a Year

question 64

Multiple Choice

You lend a friend $20,000 for a year. At the end of the year your friend agrees to pay you $21,100. The interest rate on this loan is

• A) 4.50%
• B) 5.00%.
• C) 5.50%.
• D) indeterminate from this information.

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Definitions:

Social and Cultural Factors

These refer to the influences that derive from the society and culture one belongs to, affecting behaviors, beliefs, and attitudes.

Fried Caterpillars

A dish consisting of caterpillars that have been cooked in oil, considered a delicacy or traditional food in some cultures.

Grilled Dog Meat

Cooked meat from a dog, consumed in certain cultures and regions, which is a controversial and sensitive topic due to ethical concerns.

Two-Factor Theory

A concept in psychology that emotion is based on physiological arousal and cognitive label.