Two Consumers Borrowed $10,000 for 5 Years

question 23

Multiple Choice

Two consumers borrowed $10,000 for 5 years.Bob has a credit score of 650 and has an interest rate of 11.5%,whereas Tyree has a credit score of 710 and has an interest rate of 8.0%.What will be the total difference between what the two men pay?

• A) $1,030.20
• B) $2,165.40
• C) $2,195.60
• D) $3,195.80

---

Definitions:

Foreign Corrupt Practices Act

A U.S. law that prohibits American companies and individuals from bribing foreign officials to retain or obtain business.

Countertrade

A form of international trade in which goods or services are exchanged directly for other goods or services without using a medium of exchange, such as money.

Mining Equipment

Tools, machinery, and vehicles used in the operation of extracting minerals, metals, and other valuable materials from the earth.

Direct Exporting

A method of entering a foreign market by selling products directly to customers in another country without using intermediaries.