$50,000 Is Borrowed,to Be Repaid in Three Equal,annual Payments with 10

question 60

Multiple Choice

$50,000 is borrowed,to be repaid in three equal,annual payments with 10% interest.Approximately how much principal is amortized with the first payment?

• A) $2,010.60
• B) $5,000.00
• C) $15,105.74
• D) $20,105.74

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Definitions:

Individualistic Cultures

Cultures that prioritize the needs and goals of the individual over the group or community.

Self-Motivation

The ability to drive oneself to take initiative and action to pursue goals and complete tasks without external encouragement or pressure.

Discrimination

Unfair or prejudicial treatment of people based on characteristics such as race, age, sex, or disability rather than individual merit.

Harassment

Unwanted or unwelcome behavior that demeans, humiliates, or embarrasses a person, often creating a hostile or offensive environment.