You Are Borrowing $1,000 with an APR of 10% and a Loan

question 3

Multiple Choice

You are borrowing $1,000 with an APR of 10% and a loan maturity of 1 year. Total interest charges will be the highest when:

• A)you pay off the loan in 12 monthly installments.
• B)you pay off the loan in 10 monthly installments.
• C)you make one payment in full at the end of the year.
• D)you prepay the loan 6 months prior to the maturity of the loan.
• E)you pay off the loan within 30 days.

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Definitions:

Ethical Leadership

A leadership style that is characterized by guiding others in ethical ways to establish and maintain a moral relationship between leaders and followers.

High Levels of Ethics

The practice of consistently adhering to moral principles and standards of behavior, demonstrating integrity, fairness, and respect towards others.

Burns

Could refer to physical injuries caused by heat, chemicals, electricity, sunlight, or radiation, or metaphorically to intense or damaging experiences.

Moral Dimension

Refers to the ethical aspect of decisions and actions, considering what is right and wrong.