Sam Has a Loan That Requires a Single Payment of $4,000

question 48

Multiple Choice

Sam has a loan that requires a single payment of $4,000 at the end of three years.The loan's interest rate is 6%,compounded semiannually.How much did Sam borrow?

• A) $3,358.40
• B) $4,000.00
• C) $3,660.40
• D) $4,776.40
• E) $3,350.00

---

Definitions:

Cultural Relativism

The concept that one should comprehend a person's views and behaviors from the perspective of their unique cultural background, steering clear of judgments based on one's own cultural standards.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a disregard for other cultures.

Culture Shock

A sense of confusion or uncertainty that sometimes occurs when a person is exposed to a new, unfamiliar culture, way of life, or set of attitudes.

American Tourism Syndrome

The phenomenon where tourists from the United States or its cultural influences expect or demand familiar comforts and services abroad, often at the expense of local customs and economies.