A Pottery Factory Purchases a Continuous Belt Conveyor Kiln for $50,000.A

question 87

Multiple Choice

A pottery factory purchases a continuous belt conveyor kiln for $50,000.A 6.5% APR loan with monthly payments is taken out to purchase the kiln.If the monthly payments are $501,over what term is this loan being paid?

• A)10 years
• B)11 years
• C)12 years
• D)13 years

---

Definitions:

Balloons

Flexible bags filled with a gas such as helium, hydrogen, or air, used for decoration, entertainment, or scientific purposes.

Object Permanence

The awareness that objects persist in being even when they are unseen, unheard, or cannot be felt.

Assimilation

The cognitive process of fitting new information into existing cognitive schemas, perceptions, and understanding.

Basic Trust

A concept in psychology describing the fundamental sense of safety and reliability in the world, often developed in early childhood.