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

question 117

Multiple Choice

You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%. At the end of the first month, the interest owed on $3,000 is

• A) $30.
• B) $36.
• C) $300.
• D) $360.

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Definitions:

Deep-Reduction Transmission

A transmission designed to significantly decrease the gear ratio, providing a higher torque at low speed, often used in heavy-duty vehicles.

Low-Low Ratio

A very low gear ratio in a vehicle's transmission, providing maximum torque output for situations requiring increased power at low speeds, such as off-road.

Teeth Drives

Mechanisms that use gear teeth to transmit power and motion between shafts in machinery.

Torque Output

The measure of the twisting force produced by an engine or motor, often indicating the power available to drive a vehicle or machinery.