Cindy Borrowed $750 from Clare on April 17 at an Interest

question 257

Multiple Choice

Cindy borrowed $750 from Clare on April 17 at an interest rate of 15%. On June 30 of the same year, Clare repaid the loan with interest. How much interest should she have paid?

• A) $22.81
• B) $21.63
• C) $28.13
• D) $112.50
• E) $90.87

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Definitions:

Debriefing

A process following a research study or mission where participants are explained the purpose and findings, and any deception is revealed.

Deception

The act of misleading or deceiving someone by presenting false information or concealing the truth.

Therapy

A treatment intended to relieve or heal a disorder, often involving psychological techniques for mental health issues.

Bayesian Statistics

Statistics that involve a formula for calculating the likelihood of a hypothesis being true and meaningful, taking into account relevant prior knowledge.