If a Business Takes Out a $10,000,7 Year,12% Loan,the Annual

question 62

Multiple Choice

If a business takes out a $10,000,7 year,12% loan,the annual payment is:

• A) $1,976.38
• B) $2,000.00
• C) $2,111.78
• D) $2,191.17
• E) $2,456.54

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Definitions:

Demand Shifts

Changes in the demand curve due to factors other than the price of the good, such as changes in income, tastes, or prices of related goods.

Quantity Demanded

The total amount of a good that consumers are willing and able to purchase at a specific price in a given period.

Economy Moves

The dynamic changes and shifts in economic activity, including growth, recession, and recovery phases, within a country or globally.

Supply

Refers to the total amount of a specific good or service that is available to consumers.