If You Borrow $100 at 10 Percent Simple Annual Interest

question 119

Multiple Choice

If you borrow $100 at 10 percent simple annual interest and repay it in one lump-sum at the end of one year, you will repay:

• A) $100.
• B) $105.
• C) $110.
• D) $115.
• E) $120.

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Definitions:

Drawbacks

The disadvantages or negative aspects of a situation, plan, or product that may deter decision-making or decrease effectiveness.

Certifications

Formal recognitions provided by third parties, indicating that an individual or organization meets specific standards of quality, skill, or competence.

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Signify

To represent, stand for, or denote something, often through symbols or signs.