If Mega Corp

question 39

Multiple Choice

If Mega Corp.borrows for $9,000 in 2012 and agrees to pay the lender $10,500 in one year, the interest rate on this loan is approximately:

• A) 8.6 percent.
• B) 14.3 percent.
• C) 16.7 percent.
• D) not enough information to determine.

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Definitions:

Southern and Western States

Refers to the geographic regions in the United States broadly characterized by their distinct cultural, economic, and climatic differences from the Northern and Eastern parts of the country.

Buying Power

The capacity of an individual or organization to purchase goods and services, often influenced by income, credit availability, and economic conditions.

Economic Impact

The effect of an event, policy, or market condition on the economy, affecting factors such as employment, income, and economic growth.

Individualism

The principle or habit of being independent and self-reliant, often prioritizing personal goals over those of a group.