How Long Does It Take for a Loan of $5000

question 104

Multiple Choice

How long does it take for a loan of $5000 to accumulate $1000 of interest if j₂ = 10%?

• A)1 year,10 months,13 days
• B)1 year,10 months,29 days
• C)3 years,8 months,26 days
• D)3 years,9 months,28 days

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Definitions:

Maltreatment

The act of treating a person or animal with cruelty or violence, especially regularly or repeatedly.

Addiction

A complex condition characterized by persistent use of substances or engagement in behaviors despite harmful consequences.

Follow-Up

The process of monitoring, contacting, or checking in after an initial event, meeting, or treatment to ensure progress or address any subsequent issues.