Suppose You Borrowed $14,000 at a Rate of 10

question 65

Multiple Choice

Suppose you borrowed $14,000 at a rate of 10.0% and must repay it in 5 equal installments at the end of each of the next 5 years.How much interest would you have to pay in the first year?

• A) $1,200.33
• B) $1,263.50
• C) $1,330.00
• D) $1,400.00
• E) $1,470.00

---

Definitions:

Southern Asia

A region of Asia that includes countries such as India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, and Maldives.

Several Hundred Miles

A phrase indicating a distance of many hundreds of miles, used to describe far-reaching expanses or long journeys.

Correct Verb

Utilizing the appropriate action word in a sentence that agrees in number and tense with the subject.

Museum Of Art

An institution dedicated to the collection, preservation, exhibition, and interpretation of significant objects with aesthetic, historical, cultural, or scientific value.