What Is the Interest Cost and the Total Amount Due

question 39

Multiple Choice

What is the interest cost and the total amount due on a six-month loan of $1,500 at 13.2% simple annual interest?

• A) $99; $1,500
• B) $99; $1,599
• C) $198; $1,698
• D) $198; $1,500

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Definitions:

Value-Based Conflicts

Occurs when differing beliefs and values lead to disagreements or challenges between individuals or groups.

Societal Stereotyping

Oversimplified or generalized beliefs about a group of people that ignore individual differences and complexities.

LGBT People

Individuals who identify as lesbian, gay, bisexual, transgender, and others, representing a diversity of sexual orientations and gender identities.

Heterosexists

Individuals or practices that promote the belief that heterosexuality is superior or more desirable than other sexual orientations, often marginalizing LGBTQ+ individuals.