Von Hayek's Kayaks Can Borrow $12,500 for 60 Days at a Cost

question 30

Multiple Choice

Von Hayek's Kayaks can borrow $12,500 for 60 days at a cost of $220 interest. What is the effective rate of interest?

• A)Less than 9.9%
• B)More than 9.9% but less than 10%
• C)More than 10.5% but less than 11.5%
• D)More than 11.5%

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Definitions:

Moro Reflex

is an involuntary response or startle reflex in newborns, which is triggered by a sudden loss of support or a loud sound, causing the baby to fling arms outwards and then retract them.

Evolutionary Stages

The phases of adaptation and change that species go through over generations in response to environmental demands.

Odors

The qualities of substances perceived by the sense of smell, often playing significant roles in human behavior, preference, and memory.

Vocalizations

The sounds produced by creatures, especially humans, as a form of communication or expression.