If You Borrow $2,000 from a Bank for One Year

question 84

Multiple Choice

If you borrow $2,000 from a bank for one year at a stated annual interest rate of 14 percent,but interest is prepaid (a discounted loan) ,then what is your effective annual rate?

• A) 14.00%
• B) 8.57%
• C) 16.28%
• D) 21.21%
• E) 28.00%

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Definitions:

Functional Groups

Distinct clusters of atoms in molecules that dictate the unique chemical behaviors of those molecules.

Leucine Zipper Proteins

are a type of transcription factor protein characterized by a leucine zipper structure that facilitates DNA binding.

Chromatin Structure

The organization of DNA and associated proteins in the nucleus, influencing gene expression.

Enhancers

Regulatory DNA sequences that can increase the transcription of genes, often located far from the gene they regulate.