A Pottery Factory Purchases a Continuous Belt Conveyor Kiln for $50,000

question 38

Multiple Choice

A pottery factory purchases a continuous belt conveyor kiln for $50,000. A 6.5% APR loan with monthly payments is taken out to purchase the kiln. If the monthly payments are $501, over what term is this loan being paid?

• A) 11 years
• B) 12 years
• C) 13 years
• D) 10 years

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Definitions:

Poor Construction

Refers to building structures that lack the necessary quality, standards, or materials, often leading to structural failures or hazards.

Earthquake Depths

Refers to the distance below the Earth's surface where an earthquake originates, which can influence the intensity and damage caused at the surface.

Greater Than 100 Km

A phrase generally used to describe depths or distances that exceed 100 kilometers.

Less Than 100 Km

A distance measurement indicating a range or limit smaller than 100 kilometers.