The Principal Portion of the 20^th Payment of $R on an Amortized

question 76

Multiple Choice

The principal portion of the 20^th payment of $R on an amortized loan is $340.95 and the principal portion of the 21^st payment of $R is $348.11.If there are 55 payments in total,what is R?

• A)$647.25
• B)$659.69
• C)$702.43
• D)$720.47

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Definitions:

Government Regulation

Laws and rules established by government bodies that dictate how individuals, businesses, and organizations can operate within a society.

Promotional Strategy

The plan devised by a company to increase awareness of its products or services, encourage sales, and improve market position.

Pricing Strategy

An approach businesses use to set the prices for their products or services based on market conditions, production costs, competitor prices, and company objectives.

Distribution Strategy

The plan a business uses to make its products or services available to customers, including channels, coverage, and logistics.