On May 17, Jane Took Out a Loan for $33,000

question 57

Multiple Choice

On May 17, Jane took out a loan for $33,000 at 6% to open her law practice office. The loan will mature the following year on January 16. Using the ordinary interest method, what is the maturity value due on January 16?

• A)$34,342
• B)$34,320
• C)$34,323.62
• D)$34,254
• E)None of these

---

Definitions:

Developmental Evaluation

An approach to evaluating projects, programs, or policies to adapt and respond to changes by incorporating feedback into real-time decisions.

Analyzing Data

The systematic examination and interpretation of data to discover patterns, relationships, or insights.

Modifying Program

The process of making adjustments or changes to a program to improve its effectiveness, adapt to new requirements, or meet participants' needs better.

Data Collection Method

Techniques or processes used to gather information or data for analysis and making conclusions.