If You Buy a Factory for $250,000 and the Terms

question 120

Multiple Choice

If you buy a factory for $250,000 and the terms are 20 percent down,the balance to be paid off over 30 years at a 12 percent rate of interest on the unpaid balance,what are the 30 equal annual payments?

• A) $20,593
• B) $31,036
• C) $24,829
• D) $50,212
• E) $6,667

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Definitions:

Intellectual Potential

The capacity or ability of an individual to think, reason, and understand at a high level, typically seen as a measure of future intellectual development or achievement.

Heredity

The inheritance of physical or mental qualities through genes from ancestors to descendants.

Flynn Effect

The observed rise over time in standardized intelligence test scores, theorized to be caused by various factors such as improved nutrition and education.

IQ Tests

Set exams designed to quantify cognitive skills and the intelligence of individuals.