After 4 Months How Much Interest Would I Have to Pay

question 205

Multiple Choice

After 4 months how much interest would I have to pay on a loan of $500 if the rate of interest was 22%?

• A) $11.25
• B) $27.50
• C) $36.67
• D) $110.00
• E) $39.74

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Definitions:

Extrinsic Motivation

Motivation driven by external rewards such as money, fame, grades, or praise.

Self-efficacy

Someone's trust in their own skill to perform tasks needed for certain achievements.

Competence

The ability to do something successfully or efficiently, often referring to a specific skill set or knowledge area.

Intrinsic Motivation

the drive to engage in an activity for its own sake, deriving pleasure and satisfaction from the activity itself rather than from any external rewards.