Pace CoBorrowed $20,000 at a Rate of 7

question 30

Multiple Choice

Pace Co.borrowed $20,000 at a rate of 7.25%,simple interest,with interest paid at the end of each month.The bank uses a 360-day year.How much interest would Pace have to pay in a 30-day month?

• A)$120.83
• B)$126.88
• C)$133.22
• D)$139.88
• E)$146.87

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Definitions:

Yearly Appraisal

An annual evaluation process where employees' work performance is reviewed and discussed to identify strengths, weaknesses, and areas for development.

Morale

Overall mood of an individual or group, based on attitudes and satisfaction.

Stretchable

Capable of being extended or stretched without breaking or losing shape.

Comfort Zone

A behavioral state within which a person operates in an anxiety-neutral condition, using a limited set of behaviors.