You Borrow $3,500 and Will Pay Back the Entire Amount

question 97

Multiple Choice

You borrow $3,500 and will pay back the entire amount in five years. You are charged 9 percent interest per year. How much interest do you pay on this loan?

• A) $1,885.18
• B) $1,907.35
• C) $1,959.02
• D) $2,106.81

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Definitions:

Credibility

A salesperson’s believability, established through empathy, willingness to listen to specific needs, and continual enthusiasm toward his or her work and the customer’s business.

Buying Center

A group composed of all of the people performing different roles in the buying process (e.g., user, buyer, decider, influencer, gatekeeper) based on their expertise and responsibilities within their firm.

Simile

A figure of speech comparing two different things, often introduced with the words “like” or “as,” to create a vivid description.

Metaphor

An implied comparison that uses a contrasting word or phrase to evoke a vivid image.