Assume You Borrow $5,000 Today and Pay Back the Loan

question 80

Multiple Choice

Assume you borrow $5,000 today and pay back the loan in one lump sum four years from today. You are charged 8 percent interest per year. What amount will you pay back and how much interest will you pay?

• A) $6,399.56, $1,399.56
• B) $6,508.21, $1,508.21
• C) $6,802.44, $1,802.44
• D) $7,902.11, $2,902.11

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Definitions:

Preapproach Stage

A preparatory step in the sales process where the salesperson gathers relevant information about a potential customer before making contact.

Buying Role

Describes the activities and responsibilities of individuals or entities involved in purchasing decisions or transactions in various contexts.

Preapproach Stage

The phase in the sales process where research and planning are conducted before making initial contact with a potential customer.

International Sales

International sales involve the selling of goods and services across national borders, requiring knowledge of various markets, cultures, and regulations.