You Obtain a Loan of $3,000 Based on Simple Interest

question 117

Multiple Choice

You obtain a loan of $3,000 based on simple interest with an annual interest rate of 12%. At the end of the first month, the interest owed on $3,000 is

• A) $30.
• B) $36.
• C) $300.
• D) $360.

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Definitions:

Shipping Solution

A system or service that simplifies the process of sending goods from one place to another.

Objective Function

A mathematical expression that defines the goal of an optimization problem, often involving the maximization or minimization of some quantity.

Distribution Network

A system of storage facilities and transportation logistics that moves goods from manufacturers to consumers.

Raw Material

Basic material from which a product is made, typically unprocessed or minimally processed before being used in manufacturing processes.