Peter Borrowed $225

question 96

Multiple Choice

Peter borrowed $225. He paid $20 interest and a service charge of $3.00. What is his finance charge?

• A) $3.00
• B) $20.00
• C) $23.00
• D) $225.00
• E) $248.00

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Definitions:

Owners Invested

The funds or resources that business owners put into their company to support its operations and growth.

Quick Ratio

A financial metric measuring a company's ability to meet short-term obligations with its most liquid assets, excluding inventory.