To Pay for College, a Student Borrows $4,200 Interest-Free from His

question 23

Multiple Choice

To pay for college, a student borrows $4,200 interest-free from his father.If he pays his father back at the rate of $190 per month, how much will he still owe after 15 months?

• A)$1,050
• B)$780
• C)$2,850
• D)$1,350
• E)none of the above

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Definitions:

Strategic Alliance

A collaborative effort among two or more corporations to achieve specific targets, while continuing to operate as independent entities.

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity.

Importing

The process of buying goods or services from foreign countries for sale or use in one's own country.

Global Sourcing

Global sourcing involves procuring goods or services from suppliers located in different countries around the world to take advantage of lower costs, unique capabilities, or other strategic benefits.