If You Take Out a Loan for $2,000 at an Annual

question 33

Multiple Choice

If you take out a loan for $2,000 at an annual interest rate of 10%, how much interest will you pay each year?

• A) $200.00
• B) $20.00
• C) $100.00
• D) $10.00
• E) None of the above

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Definitions:

Haitian Revolution

A successful anti-slavery and anti-colonial insurrection by self-liberated slaves against French colonial rule in Saint-Domingue, now the sovereign nation of Haiti, from 1791 to 1804.

Former Slave

An individual who was previously subjected to slavery or involuntary servitude but has since obtained freedom.

Louisiana Purchase

The acquisition of the Louisiana territory by the United States from France in 1803, significantly expanding the size of the nation.

Executive Power

The authority to implement and enforce laws, typically vested in a president or prime minister in a governmental system, including responsibilities ranging from military command to diplomatic relations.