Solve the Problem

question 61

Multiple Choice

Solve the problem. Round to the nearest cent as needed.
-The monthly payments on a $79,000 loan at 14% annual interest are $982.76. How much of the first monthly payment will go toward interest?

• A) $921.67
• B) $845.17
• C) $137.59
• D) $1106.00

---

Definitions:

Physical Changes

Alterations in the form, appearance, or structure of an object or organism without changing its identity.

Erikson's Stages

A theory of psychosocial development detailing eight stages that an individual goes through from infancy to late adulthood.

Adolescence

The transitional stage of physical and psychological development that generally occurs during the period from puberty to legal adulthood.

Adulthood

A stage of life characterized by full physical development, legal responsibility, and often increased autonomy in making personal and professional decisions.