If a Person Borrows $3,000 at 8% Annual Interest and Never

question 55

Multiple Choice

If a person borrows $3,000 at 8% annual interest and never makes any payments, how much will the loan balance be after 10 years?

• A) $4,500
• B) $5,400
• C) $6,476.77
• D) $7,676.67

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Definitions:

Cuban Invasion

Commonly refers to the Bay of Pigs Invasion in 1961, where a force of Cuban exiles, sponsored by the U.S., attempted to overthrow the Cuban government of Fidel Castro.

Urban Areas

Regions characterized by higher population density and vast human features in comparison to areas surrounding it.

Developing

A term often used to describe countries or regions with a lower level of industrialization, economic development, and lower standard of living compared to more developed countries.

Traditional Civil Rights Organizations

Groups and organizations that have historically worked towards the legal recognition and protection of the civil rights of individuals, particularly marginalized communities.