You've Worked Out a Line of Credit Arrangement That Allows

question 50

Multiple Choice

You've worked out a line of credit arrangement that allows you to borrow up to $2.5 million at any time.The interest rate is .65 percent per month.In addition,2 percent of the amount you borrow must be deposited in a non-interest-bearing account.Assume your lender uses compound interest and that you need $1.2 million today which you will repay in five months.How much interest will you pay?

• A)$38,757
• B)$40,317
• C)$42,103
• D)$44,142
• E)$38,886

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Definitions:

Disciplining Bodies

Practices and institutions that aim to regulate, control, and shape bodies according to specific norms, often reflecting power dynamics and social control.

Giddens's Analysis

An approach to understanding society that emphasizes the interplay between structure and agency, as developed by sociologist Anthony Giddens.

Globalization

A worldwide process involving the production, distribution, and consumption of technological, political, economic, and sociocultural goods and services.

Modernity

A historical period or the quality of being modern, often associated with cultural and social changes brought about by technological innovation and industrialization.