A Loan of $P Is Taken Out

question 17

Multiple Choice

A loan of $P is taken out.It is to be repaid with a payment of $2000 in 2 months,$50 in 6 months and a final payment due in 10 months.If the merchant's rule is used,the final payment turns out to be $3000.If the rate of simple interest on the loan is r = 12%,what is P?

• A)$4733.51
• B)$4735.23
• C)$4736.36
• D)$4738.18

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Definitions:

African Languages

The languages native to the African continent, which comprise several language families and thousands of languages and dialects.

Disconfirming Instances

Observations or examples that contradict the predictions or implications of a hypothesis or theory.

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An expert who studies language and its structure, including the study of grammar, syntax, phonetics, and semantics.

Induction

A reasoning process that involves making generalizations based on specific examples or observations.