Interest of $1,632 with Principal of $16,000 for 306 Days

question 88

Multiple Choice

Interest of $1,632 with principal of $16,000 for 306 days (ordinary interest) results in a rate of:

• A)10%
• B)12%
• C)12 1/2%
• D)13%
• E)None of these

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Definitions:

Genetic Information Nondiscrimination Act

A U.S. federal law enacted in 2008 to prohibit discrimination in health insurance and employment based on an individual's genetic information.

Employer

An individual or organization that employs people, offering wages or salary in exchange for labor or services.

Genetic Information

Data about an individual’s genetic markers, inherited or derived from gene tests, used for health, ancestry, and personal identification purposes.

Alan Westin

A scholar and advocate best recognized for his pioneering work in the field of privacy rights and information technology.