Find the Total Amount of Money (Maturity Value) That the Borrower

question 37

Multiple Choice

Find the total amount of money (maturity value) that the borrower will pay back on a loan of $3429 at 14% annual simple interest for 2.8 years.

• A) $4136.46
• B) $4725.16
• C) $5253.23
• D) $4773.17

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Definitions:

Predictable

Having a nature or behavior that can be anticipated or expected based on certain indications or patterns.

Fully Or Partly Automated

Systems or processes that are operated either entirely or partially by machines or software to reduce human intervention.

Complexity And Need For Confidentiality

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Outsourced

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