Ada Had $12,500 in Student Loans

question 55

Multiple Choice

Ada had $12,500 in student loans. On Sept 3, she began repayments of $450 per month when simple interest rates were 9.2% annually. On October 8 the interest rates rose to 9.5%. By what amount will the principal be reduced given the $450 payment on October 31?

• A) $361.42
• B) $355.18
• C) $352.09
• D) $350.01
• E) $347.78

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Definitions:

DNA

Deoxyribonucleic acid, a self-replicating material which is present in nearly all living organisms as the carrier of genetic information.

Mutations

Alterations in DNA sequences that can lead to changes in the structure and function of proteins produced by genes.

Somatic Cells

Cells of an organism that make up the body's tissues and organs, excluding germ cells.

DNA

A molecule known as deoxyribonucleic acid, it bears the genetic guidelines vital for the growth, development, functioning, and reproductive processes of every known living entity and several viruses.