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:

Somatic Symptom Disorders

A category of mental disorders characterized by excessive thoughts, feelings, or behaviors related to physical symptoms, leading to significant distress or impairment.

Factitious Disorders

A mental disorder in which a person acts as if they have a physical or mental illness when they are not really sick, often done to gain attention or sympathy.

Psychological Stress

A form of stress experienced as a result of perceived pressures, conflicts, and demands that challenge an individual’s ability to cope, potentially affecting mental health.

Voluntary Control

The ability to consciously regulate one's own thoughts, feelings, or actions.