Using the Ordinary Interest Method, Find the Amount of Interest $11 \frac { 1 } { 2 } \%$

question 61

Multiple Choice

Using the ordinary interest method, find the amount of interest on a loan of $5,000 at $11 \frac { 1 } { 2 } \%$ interest, for 284 days.

• A) $575.00
• B) $394.44
• C) $447.40
• D) $453.61

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Definitions:

Consequences

Outcomes or results that follow an action or decision, potentially having positive or negative effects.

Response Rate

The frequency at which a specific response or behavior occurs, often measured in operant conditioning studies.

Self-Administering Satiation

A technique where an individual repeatedly exposes themselves to a stimulus that initially elicites a strong desire, with the aim of reducing the intensity of that desire over time.

Bad Habits

Repetitive behaviors that are detrimental to one's health or wellbeing, often challenging to change.