Texas Foods Has a Loan That Requires One Lump Sum

question 31

Multiple Choice

Texas Foods has a loan that requires one lump sum payment at the end of 12 years in the amount of $389,000.The interest rate is 6.5 percent,compounded monthly.What amount did the firm borrow?

• A)$175,209.79
• B)$178,695.68
• C)$182,706.63
• D)$84,613.03
• E)$98,461.16

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Definitions:

Face-to-face Communication

Direct interaction between two or more people physically present, allowing for verbal and non-verbal cues.

Nonverbal Cues

Forms of communication that do not involve spoken words, including gestures, facial expressions, and body language, which can convey messages or emotions.

Anonymity

The state of being unknown or unacknowledged, allowing individuals to communicate or act without revealing their identity.

Complementary Skills

Abilities or competencies that enhance or complete each other when combined.