Sam Has a Loan That Requires a Single Payment of $4,000

question 8

Multiple Choice

Sam has a loan that requires a single payment of $4,000 at the end of 3 years.The loan's interest rate is 6%,compounded semiannually.How much did Sam borrow?

• A)$3,358.40
• B)$4,000.00
• C)$3,660.40
• D)$4,776.40
• E)$3,350.00

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Definitions:

Hierarchy of Authority

An organizational structure where every entity in the organization, except one, is subordinate to a single other entity.

Efficiently

means accomplishing a task or completing a process in a way that maximizes productivity with the minimum wasted effort or expense.

Contemporary Management

Involves current practices, strategies, and technologies used by managers to achieve organizational goals and address modern challenges.

Management History

The study and examination of historical developments and practices in the field of management over time.