Pace Co Borrowed $25,000 at a Rate of 7

question 50

Multiple Choice

Pace Co. borrowed $25,000 at a rate of 7.25%, SIMPLE INTEREST, with interest paid at the end of each month. The bank uses a 360-day year. How much interest would Pace have to pay in a 30-day month?

• A) $136.32
• B) $143.49
• C) $151.04
• D) $158.59

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Definitions:

Centrifuge

A machine that uses centrifugal force to separate particles or substances of different densities within a liquid.

Protozoal Infection

A type of infection caused by protozoa, single-celled organisms that can either be free-living or parasitic.

Parasitic Infection

An infestation by parasites such as protozoa, worms, or insects that live on or inside a host organism, often causing disease.

O&P Specimen

An ova and parasites specimen, or a stool sample, that is examined for the presence of certain forms of protozoans or parasites, including their eggs (ova).