If You Borrow $50,000 at an Annual Interest Rate of 12

question 105

Multiple Choice

If you borrow $50,000 at an annual interest rate of 12% for six years,what is the annual payment (prior to maturity) on a fully amortized loan?

• A)$0.00
• B)$6,000.00
• C)$8,333.33
• D)$12,161.29

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Definitions:

Battery-Powered

Relating to devices or vehicles operated using one or more batteries as their source of electrical power.

Task Time

The time needed to finish a particular task or activity.

Beverage Mixers

Equipment or substances designed to mix drinks, either alcoholic or non-alcoholic, to create consistent and well-blended beverages.

Idle Time

The period during which resources, such as machinery or labor, are not being used productively in the manufacturing process.