What Is the EAR for a $100 Loan When the Interest

question 49

Multiple Choice

What is the EAR for a $100 loan when the interest is compounded monthly and the stated annual interest rate is 7 percent?

• A)7.0 percent
• B)8.0 percent
• C)7.23 percent
• D)12.0 percent
• E)16.0 percent

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Definitions:

Emancipatory Subject

An individual or collective actor that seeks to achieve liberation from oppression or societal constraints, often within critical theory contexts.

Communism

A political and economic ideology advocating for a classless society in which all property is publicly owned and each person works and is paid according to their abilities and needs.

Gender

Socially constructed roles, behaviors, expressions, and identities of girls, women, boys, men, and gender diverse people.

Emancipatory Subject

Refers to entities or groups endeavoring to free themselves from restricting conditions or regimes and achieve greater autonomy and rights.