A Person Borrowed $18,000 for a Period of 180 Days

question 28

Multiple Choice

A person borrowed $18,000 for a period of 180 days using a straight note at 10% interest payable monthly. How much total interest will have been paid in 90 days?

• A) $450
• B) $900
• C) $1,800
• D) $3,600

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Definitions:

Math Test

An examination assessing an individual's understanding and ability to apply mathematical concepts and procedures.

Standard Intelligence Tests

Structured psychological tests designed to assess human intelligence through tasks measuring various cognitive functions like memory, reasoning, and problem-solving.

Cultural Emphasis

The significance or importance placed on specific cultural elements, values, or practices within a society.

Gardner's Theory

A theory of multiple intelligences proposed by Howard Gardner, suggesting that individuals possess several independent intelligences.