On January 20, Derek Signed a Contract to Pay Violet

question 48

Multiple Choice

On January 20, Derek signed a contract to pay Violet $1,800 plus interest on August 15 and $2,200 plus interest on September 12. Both payments carried a 6% simple interest annually. Violet then sold both contracts to Stephanie on May 10 at a rate of 3.5% annually. Determine how much she received Round to the nearest $100.

• A) $5,267.29
• B) $4,859.27
• C) $4,459.27
• D) $4,039.27
• E) $3,827.29

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Definitions:

Spiritual Distress

State of being out of harmony with a system of beliefs, a Supreme Being, or God.

Guided Imagery

A technique used in therapy and meditation that involves focusing on specific images to achieve a particular outcome, such as relaxation or healing.

Relaxation

Act of being relaxed or less tense.

Health Care Team

A group of multidisciplinary professionals who work collaboratively to provide comprehensive care and meet the health needs of patients.