Nico Makes Annual End-Of-Year Payments of $5,043

question 132

Multiple Choice

Nico makes annual end-of-year payments of $5,043.71 on a four-year loan with an interest rate of 13 percent. The original principal amount was ________.

• A) $24,450
• B) $15,000
• C) $3,100
• D) $20,175

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Definitions:

Fat-Free

A label for foods that contain less than 0.5 grams of fat per serving, often used to market products as healthier options.

Nutrition

The process by which living organisms receive and process the materials necessary for them to maintain health, grow, reproduce, and carry out their essential functions.

Alcohol Intake

The consumption of beverages containing ethanol, which can impact health and well-being.

Antioxidants

Substances that can prevent or slow damage to cells caused by free radicals, unstable molecules that the body produces as a reaction to environmental and other pressures.