A Formal or Informal Group or Organization That Demands Undivided

question 1

Multiple Choice

A formal or informal group or organization that demands undivided loyalty from its members.

• A) total institution
• B) mental institution
• C) greedy institution
• D) social institution

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Definitions:

Nominal Rate

The nominal rate is the interest rate stated on a loan or financial product, not accounting for inflation or other factors that affect purchasing power.

Repayment Of Principal

The process of paying back the original amount borrowed in a loan, separate from interest payments.

Equal Installments

A method of loan repayment where the borrower pays the lender a constant amount of money periodically, covering both principle and interest.

Repay

The action of paying back borrowed money to the lender.