Solve the Problem. -How Many Monthly Payments of $100 Are Necessary to Pay

question 133

Multiple Choice

Solve the problem.
-How many monthly payments of $100 are necessary to pay off a $2500 loan if the add-on interest rate is 8%?

• A)36 payments
• B)28 payments
• C)30 payments
• D)40 payments

---

Definitions:

Diffusion

Diffusion in social sciences refers to the process by which an innovation is communicated through certain channels over time among the members of a social system.

Entrepreneurs

Individuals who create, organize, and manage a business venture, taking on financial risk to do so.

Scientific Output

The measurable contributions and results from research activities, often including publications, patents, and new technologies.

Government Laboratories

Government laboratories are research facilities funded and operated by the government, focusing on various fields like health, defense, energy, and the environment, to advance knowledge and support government services.