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:

Carbohydrates

Organic compounds, consisting of carbon, hydrogen, and oxygen, that are broken down to release energy in the body, including sugars, starches, and cellulose.

Mechanical Digestion

The physical process of breaking down food into smaller pieces without chemical change, typically accomplished by chewing and the action of the stomach.

Chemical Digestion

The process in which large molecules in food are broken down into smaller molecules by the action of digestive enzymes.

Gallbladder

Organ that stores and concentrates bile.