On This Date Last Year,you Borrowed $3,400

question 65

Multiple Choice

On this date last year,you borrowed $3,400.You have to repay the loan principal plus all of the interest six years from today.The payment that is required at that time is $6,000.What is the interest rate on this loan?

• A)8.01 percent
• B)8.45 percent
• C)8.78 percent
• D)9.47 percent
• E)9.93 percent

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Definitions:

Personal Dispositions

Character traits or personality attributes that influence an individual's behavior and attitudes.

Situational Attributions

The process of attributing a person's behavior to external or situational factors, as opposed to their character or personality.

Dispositional Attributions

The tendency to attribute someone’s behavior to their internal characteristics or personality traits rather than to external situational factors.

Admirable Actions

Behaviors or deeds that are commendable and deserving of respect or admiration due to their moral, ethical, or noble nature.