If You Lend $3,500 to a Friend for 19 Months

question 23

Multiple Choice

If you lend $3,500 to a friend for 19 months at 8% annual simple interest, find the future value of loan. Round your answer to the nearest cent. ​

• A)$4,386.67
• B)$8,820.00
• C)$3,998.75
• D)$3,943.33
• E)$3,887.92

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Definitions:

Babbling

A stage in child language acquisition during which an infant spontaneously utters nonsensical sounds, often combining consonants and vowels, like "ba ba" or "da da."

Cooing

The early vocalization stage of human infancy, where babies produce soft, vowel-like sounds as a precursor to language development.

Psycholinguistic Theory

A framework that studies how psychological factors and linguistic elements interact in the processing and comprehension of language.