Solve the Problem. -On May 1, You Sign a $800 Note with Simple

question 118

Multiple Choice

Solve the problem.
-On May 1, you sign a $800 note with simple interest of 9.5% and a maturity date of December 19. You make partial payments of $400 on June 2 and $250 on November 4. How much will you owe On the date of maturity?

• A) $175.45
• B) $178.17
• C) $174.26
• D) $177.51

---

Definitions:

Matrilineal

A system of lineage or kinship in which familial descent and inheritance rights are traced through the mother's line.

Patrilineal

A system of lineage or descent traced through the male line, where inheritance and familial ties are determined by the father's lineage.

Agricultural Societies

Communities or societies that rely on agriculture as the main means of subsistence, with a significant portion of the population engaged in farming, livestock rearing, or other agricultural activities.

Lower Guinea

A geographical term referring to the coastal regions of West Africa, south of the Sahara Desert, known for its role in the transatlantic slave trade.