Demarkus Finally Received Financial Backing from His Wealthy Aunt in Order

question 10

Multiple Choice

Demarkus finally received financial backing from his wealthy aunt in order to open a pawn shop. He contacted the landlord of a nearby shopping center since he had his eye on a vacant storefront. To his surprise, his request for a lease was denied. What most likely prevented the landlord from leasing to Demarkus?

• A) A fixed-rate clause
• B) An escape clause
• C) A licensing clause
• D) A prohibited-use clause
• E) An exit clause

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Definitions:

Nearest 0.01%

Rounded to the closest one-hundredth of a percent.

Interest Rate

A percentage that represents the cost of borrowing money or the profit earned from an investment.

Equivalent Interest

An interest rate or yield that is calculated to be comparable across different compounding periods or payment schedules.

Nearest 0.01%

This refers to rounding calculations to the closest hundredth of a percent, commonly used for precision in interest rates and financial metrics.