Bill Borrowed $3,600 and Will Be Charged a Simple Interest

question 67

Multiple Choice

Bill borrowed $3,600 and will be charged a simple interest rate of 18%. Bill will pay ________ interest for borrowing the money on April 1 and repaying the money on December 31.

• A) $468
• B) $648
• C) $486
• D) $162

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Definitions:

Outgroups

Groups of people that one does not identify with or belong to, often perceived as different or opposed to one's own group (ingroup).

Discrimination

Unfair treatment of a person or group on the basis of prejudice.

Arabs

A linguistic and cultural ethnic group originating from the Arabian Peninsula and neighboring territories, speaking Arabic as their native language.

Muslims

Followers of Islam, a monotheistic Abrahamic religion based on the Quran.