What Is the Interest Cost and the Total Amount Due

question 39

Multiple Choice

What is the interest cost and the total amount due on a six-month loan of $1,500 at 13.2% simple annual interest?

• A) $99; $1,500
• B) $99; $1,599
• C) $198; $1,698
• D) $198; $1,500

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Definitions:

Specialized Jobs

Positions that focus on specific tasks or responsibilities, requiring particular skills or training.

Training Costs

The expenses associated with the process of educating or teaching employees new skills, knowledge, or behaviors related to their jobs.

Work Efficiency

The effectiveness with which tasks and goals are accomplished within the workplace, often measured by the ratio of output generated to the input required.

Integrator Roles

Refers to positions or responsibilities within an organization aimed at synthesizing various inputs, perspectives, and resources to achieve unified outcomes or solutions.