If Mega Corp

question 42

Multiple Choice

If Mega Corp.borrows for $9,000 in 2000 and agrees to pay the lender $10,500 in one year, the interest rate on this loan is approximately:

• A)8.6 percent.
• B)14.3 percent.
• C)16.7 percent.
• D)not enough information to determine.

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Definitions:

Economic Assistance

Financial aid provided by countries or international institutions to support the economic development and welfare of disadvantaged regions or countries.

United States

A federal republic in North America, composed of 50 states, a federal district, and several territories, known for its large economy and diverse population.

Year

A measurement of time that represents the period it takes for the Earth to complete one orbit around the Sun, approximately 365 or 366 days.

Soft Power

The ability of a country to shape the preferences of others through appeal and attraction, rather than coercion or payment.