Your Rich Uncle Ralph Is Willing to Loan You $50,000

question 33

Multiple Choice

Your rich Uncle Ralph is willing to loan you $50,000 for five years, so long as you pay interest each month. He asks for a simple interest rate of 24% per year. How much will you pay each month?

• A) $1000
• B) $2000
• C) more than $2000
• D) less than $1000

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Definitions:

Commission

A fee paid to an agent or employee for facilitating a sale or service.

Hypnotism

A psychological technique involving inducing a state of intense concentration or trance-like state, aimed at heightening suggestibility and relaxation.

Repressed Memories

Recollections that are involuntarily suppressed because they are linked to severe stress or trauma.

Dream Analysis

A psychoanalytic technique used to explore the hidden meanings and symbols in dreams, often associated with the work of Freud.