Sam Borrowed $1,250 on March 15 at an Interest Rate

question 123

Short Answer

Sam borrowed $1,250 on March 15 at an interest rate of 4.5%. Sam repaid the full amount plus the interest owed on September 1. How much did Sam repay?

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Definitions:

Anxiety Disorders

A category of mental health disorders characterized by feelings of anxiety and fear, where anxiety is a worry about future events and fear is a reaction to current events.

Depression

A mental health disorder characterized by persistently depressed mood or loss of interest in activities, causing significant impairment in daily life.

Aversive Conditioning

A type of conditioning where an unpleasant or painful stimulus is used to reduce the occurrence of an unwanted behavior.

Stress-inoculation Therapy

A psychotherapy method that helps individuals develop coping mechanisms to deal with future stressors, thereby reducing their impact.