Interest on $8,400 at 7% for 60 Days Is

question 116

Multiple Choice

Interest on $8,400 at 7% for 60 days is:

• A)$65.25.
• B)$96.66.
• C)$52.65.
• D)$36.45
• E)$41.42

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Definitions:

Mental Age

A measure of a person's intellectual development relative to people of their chronological age, indicating how far they have progressed in their cognitive abilities.

Cognitive Abilities

The mental capabilities that involve the acquisition, processing, retention, and application of information, such as memory, reasoning, attention, and problem-solving.

Encoding

The process of translating sensory input into a form or format that can be stored and used by the memory system.

Metacognition

The consciousness and comprehension of an individual's own cognitive mechanisms, commonly described as "thinking about thinking."