You Obtain a Loan of $3,000 Based on Simple Interest

question 33

Multiple Choice

You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%, or 1% a month. If the first payment is $300, how much is the principal portion of the payment?

• A) $27
• B) $270
• C) $280
• D) $295

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Definitions:

External Entities

In system analysis and design, refers to outside systems or stakeholders that interact with a given system but are not part of it.

Communicating with Network

The exchange of information between devices or systems over a computer network.

Active Topology

A type of network design where the nodes participate in moving data through the network.

Node

In network terms, a connection point, either a redistribution point or an end point for data transmissions, which can receive, create, store, or send data along distributed network routes.