What Simple Interest Rate Was Used If Rocco Charged Squirrel

question 74

Multiple Choice

What simple interest rate was used if Rocco charged Squirrel $350 interest on a loan of $2,000 for 41 days?

• A) 70%
• B) 156%
• C) 14.35%
• D) 15.58%
• E) 175%

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Definitions:

Militarist

An advocate for the maintenance of strong military capabilities and the readiness to use force to protect or promote national interests.

Anti-Semitism

Prejudice, discrimination, or hostility directed against Jewish people.

German Jews

Refers to the Jewish community in Germany, which has a long history but faced persecution, culminating in the Holocaust during World War II.

Bankers and Jewelers

Bankers and Jewelers typically refers to professionals in the finance and luxury goods sectors, highlighting their roles in managing and trading wealth and valuable items.