Solve the Problem

question 126

Multiple Choice

Solve the problem. Use an annual percentage rate table if necessary.
-Sarah Yost took out a 48-month fixed installment loan of $17,000 to open a gift shop. She began Making monthly payments of $423.05. Sarahʹs business does better than expected and instead of Making her 12th payment, Sarah decides to repay her loan in full. How much interest will Sarah Save (use the actuarial method) ?

• A) $1872.84
• B) $1926.35
• C) $2205.29
• D) $1907.97

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Definitions:

Extravert/Introvert

Extraversion and introversion are parts of a continuum of personality traits, with extraverts tending to be more outward-turning and sociable, while introverts are more inward-turning and reserved.

Intuitive/Sensing

Refers to one of the dichotomies in psychological typologies (such as the Myers-Briggs Type Indicator) that contrasts intuitive, abstract, and big-picture thinking with sensing, concrete, and detail-oriented processing.

Enantiodromia

A concept in psychology where something turns into its opposite, particularly referring to the emergence of suppressed or unconscious aspects into consciousness.

Complex

A core pattern of emotions, memories, perceptions, and wishes in the personal unconscious organized around a common theme, such as power or status.