Mr Jones Borrows $4,500 for 90 Days and Pays $75

question 9

Multiple Choice

Mr. Jones borrows $4,500 for 90 days and pays $75 interest. What is his approximate effective rate of interest?

• A)9.3%
• B)6.7%
• C)11.7%
• D)None of these options

---

Definitions:

Sensual Feelings

Experiences or emotions related to physical pleasure or the satisfaction of the senses.

Status

A condition or situation at a particular time, often relating to social or professional standing.

Ego

The part of the self that involves self-esteem and self-importance, heavily influencing decision-making and interactions.

Primary Goal

The main objective or target that an individual, group, or organization aims to achieve within a specific timeframe.