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:

Environment

The surroundings or conditions in which a person, animal, or plant lives and operates, including both natural and built environments.

Attention

The act of concentrating or focusing mental resources on specific information, objects, or tasks, often selectively.

Attribution Theory

A social psychology theory that explains how individuals infer the causes of their own and others' behaviors and events, attributing them to either internal dispositions or external situations.

Judgments

The cognitive processes of forming opinions or conclusions based on information and reasoning.