You Need Some Money Today and the Only Friend You

question 101

Multiple Choice

You need some money today and the only friend you have that has any is your 'miserly' friend. He agrees to loan you the money you need,if you make payments of $20 a month for the next six months. In keeping with his reputation,he requires that the first payment be paid today. He also charges you 1.5% interest per month. How much money are you borrowing?

• A) $113.94
• B) $115.65
• C) $119.34
• D) $119.63
• E) $119.96

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High School

An educational institution that offers secondary education, typically for students aged around 14 to 18, in preparation for college or vocational training.

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Refers to the extent to which a test or measurement tool assesses all the relevant or necessary aspects of the concept it intends to measure.

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The insight or decision made by someone who is highly knowledgeable and experienced in a particular field.

Random Errors

Errors in measurement caused by unpredictable fluctuations and which affect the precision of experimental data.