Peter Borrowed $225

question 96

Multiple Choice

Peter borrowed $225. He paid $20 interest and a service charge of $3.00. What is his finance charge?

• A) $3.00
• B) $20.00
• C) $23.00
• D) $225.00
• E) $248.00

---

Definitions:

Sarbanes-Oxley Act

A U.S. law enacted in 2002 aimed at protecting investors by making corporate disclosures more reliable and accurate.

Fourth Amendment

An amendment to the U.S. Constitution that protects citizens from unreasonable searches and seizures, requiring any warrant to be judicially sanctioned and supported by probable cause.

Robbery

Robbery is the act of taking property unlawfully from a person or place by force or threat of force.

Burglary

The unlawful entry into a building or other premises with the intent to commit theft or any other felony.