Round to Nearest Cent

question 41

Short Answer

Round to nearest cent:
$$\begin{array} { | l | l | l | l | l | } \hline \text { Principal } & \text { Interest Rate } & \text { Time } & \begin{array} { l } \text { Simple } \\\text { Interest }\end{array} & \begin{array} { l } \text { Total Amount } \\\text { Owed }\end{array} \\\hline \$ 32,000 & 7 \% & 3 \text { yrs } & \text { A } & \text { B } \\\hline\end{array}$$

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Definitions:

Contractual Terms

The conditions and stipulations outlined in a contract that determine the rights and duties of the parties involved.

Fraud in the Inducement

involves deceiving someone to enter into a contract, where the deception impacts their decision to agree to the contract.

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract, concerning their rights and obligations.

Void

A legal term indicating that a contract or transaction is null, holding no legal effect.