The Amount of Interest Owed on a Loan of $40,000

question 33

Multiple Choice

The amount of interest owed on a loan of $40,000 after a year at an interest rate of 4 percent is:

• A) $1,600.
• B) $41,600.
• C) $40,400.
• D) $160.

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The National Labor Relations Board, a U.S. government agency responsible for enforcing U.S. labor law in relation to collective bargaining and unfair labor practices.

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