Use the Following Information to Answer the Question(s)below

question 29

Multiple Choice

Use the following information to answer the question(s) below:
Ideko's Planned Debt
-If Ideko's loans will have an interest rate of 6.8%,then the interest expense paid in 2008 is closest to:

• A)$6800
• B)$7310
• C)$7820
• D)$7990

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Definitions:

Chapter 7

A bankruptcy provision that involves the liquidation of a debtor's non-exempt assets to pay off creditors.

Alimony Payments

are financial support payments made by one ex-spouse to the other after divorce, as mandated by the court.

Consumer Debt

Financial obligations incurred by individuals primarily for personal, family, or household purposes, including credits cards, mortgages, and personal loans.

Credit Score

A numerical expression based on a level analysis of a person's credit files, representing the creditworthiness of the individual.