Suppose You Borrow $300 for One Year and Pay a Finance

question 87

Multiple Choice

Suppose you borrow $300 for one year and pay a finance charge of $20. If you repay this loan all at once after one year, what is your average balance?

• A) $20
• B) $150
• C) $160
• D) $300
• E) $320

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Definitions:

Post-Traumatic Stress Disorder

A psychiatric state initiated by direct exposure to or observation of a distressing incident, featuring persistent recollections, troubling nightmares, and substantial anxiety.

Mental Disorder

A health condition characterized by significant changes in thinking, emotion, or behavior, associated with distress and/or impaired functioning.

Generalized Anxiety Disorder

A mental health condition characterized by excessive, persistent worry and anxiety about various aspects of daily life.

Nonspecific Phobia Disorder

A general term that might refer to an anxiety disorder characterized by an excessive and irrational fear of objects or situations that does not fall into the category of the well-defined specific phobias.