Suppose That You Took Out a Loan at 12% Interest

question 31

Multiple Choice

Suppose that you took out a loan at 12% interest for 200 days. If the amount of interest was $690.41, use the exact interest method to find the amount of principal you borrowed. (Round to the nearest whole dollar amount)

• A) $10,356.00
• B) $10,500.00
• C) $4,540.00
• D) $45.00

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Definitions:

Organization of Work

The arrangement and management of work tasks, workforce, and resources in an entity to maximize efficiency and achieve objectives.

American Society

Refers to the social structure, cultural norms, and values that characterize the United States of America and its inhabitants.

Scientific Revolution

The Scientific Revolution began in Europe about 1550. It encouraged the view that sound conclusions about the workings of society must be based on solid evidence, not just speculation.

Organizing Society

The ways in which social structures and institutions are arranged and managed to form a functioning community or society.