Interest of $429

question 126

Multiple Choice

Interest of $429.48 was charged on a loan of $9500 over a period of 7 months. What simple rate of interest was charged on the loan?

• A) 4.52%
• B) 2.64%
• C) 7.75%
• D) 3.48%
• E) 4.38%

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Definitions:

Personality Characteristics

Traits that describe an individual's consistent patterns of feeling, thinking, and behaving.

Emotional Affectivity

The extent to which people typically experience positive and negative emotions.

Negative Affect

Emotional expressions and experiences characterized by distress, discomfort, and dissatisfaction.

Social Activity

Participation in events or activities that involve interaction with others, contributing to a person's social life and well-being.