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:

Structure

The arrangement of atoms within a molecule, defining its chemical properties and behavior.

Morphine

A potent opiate analgesic drug derived from the opium poppy used to relieve severe pain.

Amine Class

A class of organic compounds characterized by the presence of a nitrogen atom connected to one or more alkyl or aromatic groups.

N-propyl-4-methyl-3-octanamine

A chemical compound, structured as an amine, where a propyl group is bonded to the nitrogen of an octanamine backbone with a methyl substitution at the fourth position.