Critical Thinking Questions Case 1-1 Perry Has Recently Expanded His

question 80

Multiple Choice

Critical Thinking Questions Case 1-1 Perry has recently expanded his business from a sole proprietorship to include two new employees he has hired. As a result of this expansion, he is considering carefully how to save the workbooks that he and his employees will create, and what storage media would be the best for the workbooks. Perry decides that he will need to have access to particular workbooks on a variety of computers in the office. As a result, which of the following storage media is a good choice for him?

• A)USB flash drive
• B)hard drive
• C)Internet
• D)Web site

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Definitions:

Loan Terms

Loan terms are the specific conditions and details agreed upon by the lender and borrower, including interest rate, repayment schedule, and duration of the loan.

Amortized Loan

A loan with scheduled periodic payments that cover both principal and interest over the loan's term until it is paid off at maturity.

Monthly Mortgage Payment

The amount paid by a borrower to a lender each month, which includes principal and interest on a mortgage loan.

Borrowed

Borrowed refers to funds or items taken on loan from another party, which are expected to be returned or paid back under agreed-upon conditions.