Stanley Borrowed $4200 for 4 Years

question 38

Short Answer

Stanley borrowed $4200 for 4 years. The total amount repaid is $4452.00. Find the annual simple interest rate on this loan.

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Definitions:

Motorized Warfare

The use of motor vehicles such as tanks, trucks, and armored vehicles in combat operations to enhance mobility, speed, and firepower.

Enigma Machine

A device used by the German military during World War II for encrypting communications, which was later deciphered by Allied cryptologists.

Ghettos

Urban areas historically designated for specific ethnic or religious communities, often associated with restrictions, isolation, and socioeconomic hardship.

Slave Laborers

Individuals who were forced to work without pay, often under harsh conditions, as a result of being enslaved.