You Could Borrow $2,000 Today from Bank a and Repay

question 213

Multiple Choice

You could borrow $2,000 today from Bank A and repay the loan,with interest,by paying Bank A $2,125 one year from today.Or,you could borrow X dollars today from Bank B and repay the loan,with interest,by paying Bank B $2,200 two years from today.In order for the same interest rate to apply to the two loans,X =

• A)$1,853.55.
• B)$1,898.70.
• C)$1,948.79.
• D)$2,012.22.

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Definitions:

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Department of Defence

A government agency responsible for the coordination and supervision of all agencies and functions of the government concerned directly with national security and the military.

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The graphical representation of how an individual, group, or system's performance improves over time as a result of gaining experience or efficiency.

Learning Rate

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