What Amount of Interest Will Be Charged on $20 000

question 8

Multiple Choice

What amount of interest will be charged on $20 000 in 1 month for a simple interest of 5.99%?

• A) $1198
• B) $119.80
• C) $99.83
• D) $9.98
• E) $0

---

Definitions:

Subgoals

Intermediate goals or objectives that are set as steps towards achieving a final goal, aiding in the organization and execution of complex tasks.

Heuristics

Simple, efficient rules, either hard-coded by evolutionary processes or learned, that help in decision-making, discovering, learning, or problem-solving with incomplete information.

Algorithms

A set of rules or procedures for solving a problem in a finite number of steps, often used in mathematics and computer science.

Criterion

A standard or rule by which something can be judged or measured.