What Is the Exact Simple Interest on a 150-Day Loan

question 37

Multiple Choice

What is the exact simple interest on a 150-day loan of $2,350 at 10%?

• A) $96.58
• B) $58.67
• C) $28.20
• D) $9.66

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Definitions:

Classically Conditioned

An educational method where two stimuli are consistently associated; initially, the second stimulus provokes a response, but over time, the response is triggered by the first stimulus alone.

Early Childhood

A developmental period in human growth from birth to around 8 years old, characterized by rapid physical, cognitive, and social development.

Iconic Memory

A component of the visual memory system which is a very brief (<1 second) recall of a visual stimulus.

Mental Image

A representation in a person's mind of a sensory experience without the stimulus being present.