Doris Borrowed $5000 from a Finance Company at an Interest

question 168

Multiple Choice

Doris borrowed $5000 from a finance company at an interest of 8% quarterly. The loan is to be repaid in 3 equal payments, annually. What is the amount of the equal payment?

• A) $1948.69
• B) $1666.67
• C) $1419.51
• D) $1787.42
• E) $1856.77

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Definitions:

Situational Type Phobia

A type of anxiety disorder characterized by irrational fear of specific situations, such as flying, heights, or enclosed spaces.

Social Anxiety Disorder

A mental health condition characterized by an intense, persistent fear of being watched and judged by others in social situations.

Animal Type Phobia

A type of specific phobia involving an intense, irrational fear of certain animals.

Observational Learning

A learning process through which behaviors are acquired by watching and imitating others.