The Value of a Loan of $2,000 After a Year

question 118

Multiple Choice

The value of a loan of $2,000 after a year at 2 percent interest is:

• A)$4,000.
• B)$2,040.
• C)$2,020.
• D)$2,400.

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Definitions:

Coefficient Of Determination

A statistic that provides a measure of how well observed outcomes are replicated by the model, based on the proportion of total variation of outcomes explained by the model.

Coefficient Of Determination

A statistical measure represented by the symbol R², indicating the proportion of the variance in the dependent variable predictable from the independent variable(s).

Degrees Of Freedom

The number of independent values in a statistical calculation that are free to vary, often related to the number of observations in a dataset minus the number of constraints.

Sample Size

The number of individuals or instances taken from a larger population for the purpose of statistical analysis.