Jack Borrowed $1240 from His Brother

question 47

Multiple Choice

Jack borrowed $1240 from his brother. Jack's brother wants 12 monthly payments of $120 to repay the loan. How much extra is Jack's brother charging for the loan?

• A) $200
• B) $80
• C) $1540
• D) $1440

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Definitions:

Ego-oriented Goal

A goal set with the intention of proving one’s own competence or superiority, often based on external validation or comparison with others.

Task-oriented Goal

Objectives focused on completing a specific task or achieving a particular result, often emphasizing performance and efficiency.

Social Goal

An objective or aim that is influenced by or aimed at benefiting others or fulfilling societal expectations.

Ego-oriented Goal

Objectives where the primary focus is on self-improvement relative to one's own past performances, emphasizing personal achievement and mastery.