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:

Segregation

The enforced separation of different racial or ethnic groups within a society, often leading to discrimination or unequal treatment.

Civil Rights

The rights of citizens to political and social freedom and equality, often protected under law from discrimination on grounds such as race, gender, or sexual orientation.

Equal Protection

Refers to the constitutional guarantee under the Fourteenth Amendment that no state will deny any person within its jurisdiction the equal protection of the laws.

Brown v. Board

A landmark Supreme Court case in 1954 that declared state laws establishing separate public schools for black and white students unconstitutional.