If the Principal of a Bank Loan Is $20,000, the Interest

question 2

Multiple Choice

If the principal of a bank loan is $20,000, the interest rate is 9% compounded annually and the maturity date is in 10 years, what would the total payment be if none of the principal was paid back before the maturity date?

• A) $4,734
• B) $51,880
• C) $53,640
• D) $43,440
• E) $47,348

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Definitions:

Learned Helplessness

A condition in which an individual learns to believe they are powerless to change a negative situation because previous attempts have been unsuccessful, leading to a lack of motivation or effort.

Incentive Motivation

involves the drive to pursue or engage in an activity for the purpose of gaining external rewards or avoiding negative outcomes, which serve as incentives for behavior.

Transformational Properties

relates to the ability of something, such as a mathematical function or a leadership style, to change or transform entities in a way that adds value or meaning.

Energizing Properties

Characteristics or effects of a substance or activity that increase vigour, liveliness, or stamina.