Suppose You Borrowed $15,000 at a Rate of 8

question 92

Multiple Choice

Suppose you borrowed $15,000 at a rate of 8.5% and must repay it in 5 equal installments at the end of each of the next 5 years.How much would you still owe at the end of the first year, after you have made the first payment?

• A) $10,155.68
• B) $10,690.19
• C) $11,252.83
• D) $11,845.09
• E) $12,468.51

---

Definitions:

Ethnomethodological Analysis

A method of sociological analysis that examines the ways in which individuals and groups use everyday conversation and gestures to construct a common-sense view of the world.

Applause

A show of approval or appreciation by an audience, typically involving clapping hands.

Statement

A declaration or an assertion made by someone, either spoken or written.

Mediation

The process or practice of resolving disputes through the intervention of a neutral third party, aiming to reach an agreement or understanding between conflicted parties.