Suppose You Borrowed $12,000 at an Annual Rate of 6

question 16

Multiple Choice

Suppose you borrowed $12,000 at an annual rate of 6 percent interest to buy a car and wish to repay it in five equal payments at the end of each of the next five years.Which of the following is the closest to the amount of each of these payments?

• A)$2,364
• B)$2,849
• C)$2,544
• D)$2,436

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Definitions:

Temporary Assignments

Work tasks or projects assigned to an individual or group for a limited period of time, often to cover gaps or provide additional support.

Work History

A record of an individual's past employment experiences, including job titles and durations of employment.

Frequent Job Changes

Refers to a pattern where an individual changes jobs more often than what is traditionally considered normal, potentially indicating adaptability or restlessness in their career path.

Action Verbs

Words that express specific, measurable activities or tasks, often used to add clarity and dynamism to written or verbal communication.