Nico Makes Annual End-Of-Year Payments of $5,043

question 95

Multiple Choice

Nico makes annual end-of-year payments of $5,043.71 on a four-year loan with an interest rate of 13 percent. The original principal amount was

• A) $24,462
• B) $15,000
• C) $ 3,092
• D) $20,175

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Definitions:

Homeostasis

The tendency of a biological system to maintain stability while adjusting to conditions that are optimal for survival.

Multitasking

The ability to perform multiple tasks simultaneously or switch between tasks quickly.

Simultaneously

Occurring, operating, or done at the same time.

Mainstream Media

Outlets of mass communication that reach a large audience, including television, newspapers, and radio, which often set the agenda for public discourse.