MrsRobinson Borrows $5,000 for 90 Days and Pays $80 Interest

question 96

Multiple Choice

Mrs.Robinson borrows $5,000 for 90 days and pays $80 interest.What is her annual rate of interest?

• A) 1.6%
• B) 6.49%
• C) 12.98%
• D) 6.40%

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Definitions:

Basic Types

Fundamental categories or classifications into which subjects, concepts, or objects are organized based on shared characteristics.

Negotiations

The process of discussing and arriving at a mutually acceptable agreement between parties with differing interests.

Italian Styles

Refers to the distinctive fashion, design, or architecture that originates from Italy, known for elegance and quality.

Business Negotiations

The process of discussing and reaching a mutually beneficial agreement between parties, in a business context.