Enrique Borrowed $3600 to Put a Down Payment on a Motorcycle

question 5

Multiple Choice

Enrique borrowed $3600 to put a down payment on a motorcycle. The loan had a simple interest rate of 8% for 2 years. Use the formula I = prt to find the amount of interest he will pay on the loan. I = interest; p = principal; r = rate (expressed as a decimal 0.08) ; t = time in years.

• A) $576
• B) $288
• C) $4176
• D) $2880

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Definitions:

Double Standard

The application of different sets of principles for similar situations, or to different people, in a way that is unfair or unethical.

Channeling

The practice of directing or guiding anything through a medium or pathway, such as thoughts, energies, or resources.

Scrutinizing

Examining or inspecting closely and thoroughly.

African American Women

Women of African descent living in the United States, contributing to the diverse cultural and societal fabric.