On January 15, Mario Signed a Contract to Pay Stephan

question 10

Multiple Choice

On January 15, Mario signed a contract to pay Stephan $12,000 plus 9% interest on May 15 and $18,000 plus 10% interest on September 12. On August 15, Stephan then sold the first contract to Sally at a rate of 11% and the other contract to Anna for 12%. Determine the amount Stephan received on August 15.

• A) $33,333.33
• B) $31,030.33
• C) $30,130.33
• D) $29,313.33
• E) $26,613.33

---

Definitions:

Base Year

A reference year against which economic growth or inflation is measured, often using indices in real GDP calculations or price levels.

Structural Unemployment

A form of unemployment caused by a mismatch between the skills that workers offer and the skills demanded by employers, often due to technological changes or shifts in the economy.

Computer-Operated Machines

Computer-Operated Machines are devices controlled by computers to perform various tasks, increasing efficiency and precision in manufacturing and other industries.

Structural Unemployment

Occurs when there is a mismatch between the skills that workers in the economy can offer and the skills demanded by employers.