A $4000 Loan for Three Years with Total Interest Charges

question 46

Multiple Choice

A $4000 loan for three years with total interest charges of $1800 has an APR of

• A)45 percent.
• B)18 percent.
• C)15 percent.
• D)13.5 percent.

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Definitions:

Tecumseh's Speech

A powerful address by the Native American leader Tecumseh, advocating for unity among indigenous peoples against European settlers.

Osage

A Native American tribe originally located in the Ohio Valley and later known for their vibrant culture and significant historical impact in the Missouri and Oklahoma regions.

White People

A term used to describe individuals of European descent or belonging to ethnic groups characterized by light skin pigmentation.

Inductor

A passive electronic component that stores energy in a magnetic field when electrical current flows through it.