If You Borrow $50,000 at an Annual Interest Rate of 12

question 113

Multiple Choice

If you borrow $50,000 at an annual interest rate of 12% for six years,what is the annual payment (prior to maturity) on a discount loan?

• A)$0.00
• B)$6,000.00
• C)$8,333.33
• D)$12,161.29

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Definitions:

Per Se Violations

In law, actions or situations that are inherently illegal and do not require further proof of illegality or intent to enforce penalties.

Acceptable Practices

Established norms or standards of behavior that are considered to be appropriate and acceptable within a specific field or context.

Business Practices

The methods, strategies, and procedures employed by companies in the design, production, marketing, and sale of their products and services.

Sherman Act

A United States antitrust law passed in 1890 that outlaws monopolistic practices and promotes competition.