Use Exact Interest

question 23

Short Answer

Use exact interest. Round to nearest cent:
$$\begin{array} { | l | l | l | l | l | l | l | } \hline & & \text { Date } & \text { Date } & & \text { Simple } & \text { Amount } \\\text { Principal } & \text { Interest Rate } & \text { Borrowed } & \text { Repaid } & \text { Time } & \text { Interest } & \text { Paid Back } \\\hline \$ 15,000 & 12 \% & \text { May 12 } & \text { Sept 16 } & \text { A } & \text { B } & \text { C } \\\hline\end{array}$$

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Definitions:

Fem Cap

A brand of cervical caps, which are barrier methods of contraception worn inside the vagina to cover the cervix.

Depo-Provera

A contraceptive injection for women that contains the hormone progestin to prevent ovulation, effectively reducing the chance of pregnancy.

Laparoscopy

A minimally invasive surgical procedure using a laparoscope to examine or treat parts of the abdomen or pelvis.

Discontinuous Innovation

Innovation that represents a significant leap forward, creating new markets or drastically changing the performance and usage of products within existing markets.