Calculate the Total Amount Due After Two Years on a Loan

question 19

Multiple Choice

Calculate the total amount due after two years on a loan of $1100 with a simple interest charge of 7%.

• A) $1254
• B) $1204
• C) $1304
• D) $1354
• E) $1154

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Definitions:

Henry III

King of England from 1216 until his death in 1272, known for his long reign, conflicts with nobility, and role in the development of parliament.

Huguenot Bourbon

Refers to members of the Bourbon dynasty who were Huguenots, French Protestants, in a predominantly Catholic France, highlighting the religious complexities within the royal family.

Edict of Nantes

A 1598 decree issued by Henry IV of France, granting substantial religious and civil rights to the Huguenots (French Protestants).

Protestants

Followers of any of the Christian denominations that broke away from the Roman Catholic Church during the Protestant Reformation.