If You Owe $1,200

question 15

Multiple Choice

If you owe $1,200.00, which is the most advantageous way to pay it back assuming a 12% APR discount rate?

• A)$100.00 monthly payments over the next twelve months
• B)$300.00 quarterly payments over the next four quarters
• C)$600.00 paid every six months over the next year
• D)$1,200.00 paid after one year

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Definitions:

Ratio Scale

A quantitative scale where there is a true zero point and the intervals between different values are meaningful, allowing for the comparison of absolute magnitudes of the numbers.

Independent Variables

Variables in an experiment or model that are manipulated or selected by the researcher to determine their effect on dependent variables.

Quantitative Data

Information that can be measured and written down with numbers.

Categorical Data

Data that represents characteristics and can categorize inputs into identifiable segments or classes.