Bill Has a Debt of $5000 Which Was Due 30

question 100

Multiple Choice

Bill has a debt of $5000 which was due 30 days ago.He also has another debt of $6000 due 90 days from now.It has been decided that these 2 debts will be settled by a payment of $4000 today and a final payment of X made 70 days from now.If the simple interest rate is r = 9%,what is the value of X if you use a focal date of now?

• A)$7025.94
• B)$7024.80
• C)$7000.00
• D)$6906.73

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Definitions:

Optic Chiasm

An X-shaped structure formed by the crossing over of the optic nerves, allowing visual information from both eyes to be processed by both hemispheres of the brain.

Retina

The light-sensitive layer of tissue at the back of the inner eye which converts light into neural signals sent to the brain.

Cones

Photoreceptor cells in the retina of the eye that are responsible for color vision and function best in relatively bright light.

Color Vision

The ability of the eye to distinguish objects based on the wavelengths of the light they reflect or emit.