What Is the Amount of the Equal Annual Installments for a 10-Year

question 9

Multiple Choice

What is the amount of the equal annual installments for a 10-year, $10,000 loan with a 20% rate of interest?

• A)$2,225
• B)$3,863
• C)$2,385
• D)$1,917
• E)$2,000

---

Definitions:

Spoken Conversation

A form of communication that involves verbal interaction between two or more individuals in real-time.

Written Medium

A form of communication that involves the expression of ideas, information, or narratives through written text.

Short-Message Technologies

Technologies designed for sending brief text or multimedia messages, often used in mobile communications and instant messaging platforms.

Email Usage

The practice of using electronic mail for communication, including sending, receiving, and managing messages.