Use the Following Information for Questions

question 12

Multiple Choice

Use the following information for questions
A bank customer is granted credit for a $2,000 loan at 10% to be repaid in 12 equal installments.
-If the loan quoted has an add-on rate, what is the approximate annual percentage rate (APR) on the loan?

• A)20%
• B)18%
• C)14%
• D)12%
• E)10%

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Definitions:

Moral Standards

The principles that guide individuals in distinguishing right from wrong behavior, often influenced by cultural, religious, and personal beliefs.

Eco-branding Strategy

A branding approach that emphasizes environmental responsibility and sustainability in the marketing of products or services.

Renewable

Resources or energy sources that can be replenished naturally over a short period of time.

Recycled Packaging

Packaging materials that have been recovered or diverted from the waste stream, reprocessed into new materials, and then reused in packaging.