The Export Development Corp

question 14

Multiple Choice

The Export Development Corp. (EDC) offered a $500,000 startup loan to qualifying entrepreneurs. For year one of the loan, it was interest and payment free. Subsequently, there was a two-year period where interest only payments were made at the end of each year. In Year 4, both interest and principal payments were made. The loan had to be repaid at the end of Year 8. If the interest rate charged in years 2 through 8 remained at 8% compounded annually, what was the total interest paid on the entire EDC loan.

• A) $33,026
• B) $32,000
• C) $246,894
• D) $120,494
• E) $206,143

Analyze factors contributing to marital satisfaction after the birth of a child.

Describe paths to retirement and their application to individual cases.

Understand the psychological aspects of caring for aging parents.

Comprehend the stratification and dynamics within adolescent social networks.

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Definitions:

Folic Acid

A water-soluble B-vitamin (B9) important for cell growth and metabolism, often taken before and during pregnancy to prevent birth defects.

Antibiotics

Medicines used to prevent and treat bacterial infections by either killing bacteria or inhibiting their growth.

Topical Antibiotic

Medications applied directly to the skin or mucous membranes to treat or prevent bacterial infections.

Polymyxin B

An antibiotic primarily used to treat bacterial infections that are resistant to other antibiotics, often targeting the Gram-negative bacteria's cell membrane.