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:

Vivid Dreams

Highly detailed, clear, and sometimes intensely emotional dreams that are remembered upon awakening.

Pain Receptors

Specialized nerve endings that transmit pain signals to the brain when the body experiences harmful stimuli.

Emotional Reactions

Responses characterized by intense feelings that are generated in response to an internal or external event.

Hypnotized

The state of being in a trance, often induced by another person, characterized by heightened suggestibility and focus.