Find the Interest Paid on a Loan of $3946 for 5

question 87

Multiple Choice

Find the interest paid on a loan of $3946 for 5 months at a simple interest rate of 12% per year.

• A) $236.76
• B) $157.84
• C) $198.96
• D) $197.30

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Definitions:

Independent Variable

A variable in an experiment that is manipulated or changed by the researcher to observe its effects on the dependent variable.

Experimental Group

A group of subjects in an experiment who are exposed to the independent variable to assess its effect, compared to a control group.

Smallest Unit

The fundamental, indivisible particle or component of a system, often referring to cells in biology or atoms in chemistry.

Life

The condition that distinguishes animals and plants from inorganic matter, including the capacity for growth, reproduction, functional activity, and continual change preceding death.