A Firm Arranged for a 120-Day Bank Loan at an Annual

question 66

Multiple Choice

A firm arranged for a 120-day bank loan at an annual rate of interest of 10 percent. If the loan is for $100,000, how much interest in dollars will the firm pay? (Assume a 360-day year.)

• A) $10,000
• B) $30,000
• C) $3,333
• D) $1,000

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Definitions:

Police Officer

A member of the police force, tasked with enforcing law and order, providing public safety, and preventing, detecting, and investigating criminal activities.

Racial Profiling

The unjust practice of targeting individuals for suspicion of crime based on their race, ethnicity, religion, or national origin.

Stop-and-Search

Police practice of stopping individuals and searching them for weapons, illegal substances, or other contraband without a warrant.

Scot Wortley

A Canadian criminologist known for his research on race, crime, and the criminal justice system, particularly in the context of racial profiling and discrimination.