You Have Two Options Available in Repaying a Loan

question 5

Multiple Choice

You have two options available in repaying a loan.You can pay $200 at the end of 5 months and $300 at the end of 10 months or you can pay $X at the end of 3 months and $2X at the end of 6 months.What is X if the simple interest rate is 6% and the focal date is at the end of 5 months.

• A)$169.16
• B)$168.05
• C)$164.22
• D)$163.14

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Definitions:

Stay Up Late

The act of remaining awake past the usual or intended hour, often leading to reduced rest.

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The practice of engaging in inner dialogue that is neither overly positive nor negative, but rather objective and factual.

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The process of continuing to study or practice beyond just mastering the material, to ensure longer-term retention.

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Drinks containing caffeine, a stimulant, which can boost alertness and energy levels.