If $22,050 Is the Amount Payable in Two Years for a $20,000

question 91

Multiple Choice

If $22,050 is the amount payable in two years for a $20,000 simple loan made today,the interest rate is

• A)5 percent.
• B)10 percent.
• C)22 percent.
• D)25 percent.

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Definitions:

Word Salad

A speech disorder characterized by the random juxtaposition of words that lack meaningful connection, typically seen in severe psychiatric conditions such as schizophrenia.

Perseveration

The repetitive and continuous focus on a particular response or behavior, often observed in psychological conditions.

Self-Mutilation

The act of deliberately harming one's own body as a way to cope with emotional distress, without the intention of suicide.

Suicide Attempts

Actions taken by an individual with the intent to end their life, but which do not result in death.