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

question 108

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 three years?

• A) $3,720
• B) $3,779.14
• C) $3,977.41
• D) $7,239.27

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Definitions:

Pygmy Chimpanzees

Also known as bonobos, a species of great ape known for their matriarchal societies and high levels of sexual behavior as a social activity.

Sexual Activity

Behaviors that involve sexual intercourse, genital stimulation, and other practices for sexual pleasure and reproduction.

Same Sex

Pertaining to a relationship, attraction, or orientation involving individuals of the same gender.

Contact Motive

A psychological need or drive to seek and maintain physical or emotional closeness with others.