Suppose You Borrowed $12,000 at a Rate of 9

question 158

Multiple Choice

Suppose you borrowed $12,000 at a rate of 9.0% and must repay it in 4 equal installments at the end of each of the next 4 years.How large would your payments be?

• A) $3,704.02
• B) $3,889.23
• C) $4,083.69
• D) $4,287.87
• E) $4,502.26

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Definitions:

False Cause

Refers to a logical fallacy where it is assumed that because one event follows another, the first event caused the second.

Appeal to Ignorance

A logical fallacy that occurs when one argues that a proposition must be true because it has not been proven false or vice versa.

Non Sequitur

A statement that does not logically follow from the previous argument or statement.

Appeals to Tradition

A logical fallacy where it is argued that something is right or acceptable because it has been traditionally done or believed.