You're Ready to Make the Last of Four Equal,annual Payments

question 41

Multiple Choice

You're ready to make the last of four equal,annual payments on a $1,000 loan with a 10% interest rate.If the amount of the payment is $315.47,how much of that payment is accrued interest?

• A) $28.68
• B) $31.55
• C) $100.00
• D) $315.47

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Definitions:

At-will Employees

Workers who may be hired and dismissed by their employers at any time and for any reason that is not illegal, without the need for just cause.

Lifelong Employees

Employees who spend the majority or entirety of their career working within the same organization, reflecting a long-term commitment.

Job Market

The marketplace in which employers search for employees and employees search for jobs; characterized by the supply and demand for labor.

Autonomy

The state or condition of having independence or freedom, or the right to self-govern.