Solve the Problem. -Bethany Needs to Borrow $8,000. She Can Borrow Money at Borrow

question 13

Multiple Choice

Solve the problem.
-Bethany needs to borrow $8,000. She can borrow money at 6.9% simple interest for 3 yr or she can borrow at 6.5% with interest compounded continuously for 3 yr. Which option results in less total
Interest?

• A) 6.5% compounded continuously results in less total interest
• B) 6.9% simple interest results in less total interest

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Definitions:

Electra Complex

The daughter’s love for her father and wish for her mother’s death; attributed to Carl Jung.

Oedipus Complex

The male child’s love for the mother and wish for the father’s death during the phallic stage.

Anal-retentive Personality

A term derived from Freudian theory indicating a person who is excessively orderly, perfectionistic, and rigid, often stemming from early toilet training experiences.

Anal-expulsive Personality

A psychoanalytic concept that suggests a personality type characterized by messiness, carelessness, and a lack of self-control, believed to originate from certain experiences in early childhood.