Find the Exact Interest on a Loan of $1100 at 8

question 33

Multiple Choice

Find the exact interest on a loan of $1100 at 8% annually for 155 days.

• A) $3.79
• B) $37.37
• C) $37.89
• D) $3.74

Recognize the significance of currency value fluctuations and their impact on international trade and economic decisions.

Understand the objectives and impacts of regional trade agreements such as NAFTA and CAFTA.

Understand the role of open workspace arrangements in facilitating informal communication among employees.

Recognize effective strategies for combating negative rumors and promoting healthy communication within organizations.

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Definitions:

Medical Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured.

Withholding Allowance

An amount claimed on tax Form W-4 that determines how much income tax the employer will withhold from each paycheck. Each allowance claimed (as for a spouse or dependents) reduces the amount of income tax withheld.

Taxable Income

The portion of an individual’s or corporation's income that is subject to taxes by the government.

Withholding Allowance

A claim made by an employee on a W-4 form to reduce the amount of income tax withheld from their paycheck.