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:

Behavioral Genetics

Quantitative study of relative hereditary and environmental influences on behavior.

Human Development

A multidisciplinary study of how people change and grow over the course of their lives, encompassing physical, cognitive, and socioemotional aspects.

Environment

Encompasses all the external physical and social conditions and influences affecting the life and development of an organism or population.

Heredity

The biological process through which genetic characteristics are transmitted from one generation to the next.