Suppose You Borrowed $14, 000 at a Rate of 10

question 50

Multiple Choice

Suppose you borrowed $14, 000 at a rate of 10.0% and must repay it in 5 equal installments at the end of each of the next 5 years.How much interest would you have to pay in the first year?

• A) $1, 200.33
• B) $1, 263.50
• C) $1, 330.00
• D) $1, 400.00
• E) $1, 470.00

---

Definitions:

Quantify

To express or measure the quantity of something.

Property Rights

Legal rights to possess, use, and dispose of assets or land.

Polluters

Entities that emit harmful substances into the environment, contributing to pollution.