After Taking Out a One Year Loan with an Annual

question 46

Multiple Choice

After taking out a one year loan with an annual interest rate of 10 percent, Tommy pays $3,300 back to the bank. The principal of the loan must be ___________ and the interest payment must be ___________.

• A) $3,000; $300
• B) $3,300; $300
• C) $300; $3,300
• D) $300; $3,000

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Definitions:

Voting Privilege

The right or advantage given to certain individuals or groups to participate in elections; often highlighted when discussing voting access or restrictions.

Right to Vote

The legal privilege or entitlement to participate in the electing of representatives or to cast a vote in referendums and other electoral processes.

Colonization Of Texas

The process in the 19th century by which settlers from the United States and other countries moved into the Mexican territory of Texas, leading to its eventual annexation by the U.S.

Mexican Government

The federal republic government of Mexico, consisting of an executive branch led by the President, a legislative branch, and a judicial branch.