You Take Out a 2-Year, $5,000 Loan at 9% Simple

question 43

Short Answer

You take out a 2-year, $5,000 loan at 9% simple annual interest. The lender charges you a $200 fee. Thinking of the fee as additional interest, what is the actual annual interest rate you will pay Round answer to the nearest whole number.

__________%

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Definitions:

Superego

One of the three components of the human psyche in Freudian psychoanalytic theory, representing the internalized societal standards of morality and ethics.

Metaphor

A figure of speech in which a word or phrase is applied to an object or action to which it is not literally applicable.

Superego

In psychoanalytic theory, the part of the personality that acts as a moral center, guiding behavior by incorporating societal and parental standards.

Personality Structure

The organized pattern of behaviors and attitudes that makes a person distinctive, encompassing traits, temperament, and character.