Suppose That You Need $4000 to Purchase Equipment

question 87

Multiple Choice

Suppose that you need $4000 to purchase equipment. If you are applying for a discounted loan at an interest rate of 5% per year for 3 years, how much do you need to borrow to cover the principal?

• A) $4000
• B) $4600
• C) $4705.88
• D) $4821.76

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Definitions:

Identical Twins

Twins that result from one fertilized egg splitting and forming two embryos, sharing 100% of their genetic material.

Fraternal Twins

Siblings born at the same time but developed from separate eggs fertilized by different sperm, sharing 50% of their DNA.

Single Birth Siblings

Siblings who are not twins or multiples, born from separate pregnancies.

Adaptive Testing

A method of assessment where the difficulty of subsequent questions is determined by the test taker's performance on previous questions.