Suppose Mary receives an $8,000 loan from First National Bank. Mary repays $8,480 to First National Bank at the end of one year. Assuming the simple calculation of interest, the interest rate on Mary's loan was:
A. $480
B. 8.00%
C. 6.00%
D. 5.66%
Answer: C
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Which of the following is motivated by an efficiency concern?
A) The United Network for Organ Sharing advocates a system of rationing scarce kidneys that would favor young patients over old in an effort to wring more life out of donated organs. B) In December 2006, the Bush administration restarted a short-term housing assistance program for victims of Hurricane Katrina. C) Each year, the University of Notre Dame conducts a lottery to parcel out the 30,000 seats available to contributors, former athletes, and parents in the 80,000-seat stadium. D) The federal government's housing choice voucher program assists very low-income families, the elderly, and the disabled to afford decent, safe, and sanitary housing in the private market.
The merger of two community hospitals located in the same geographic market is called
a. vertical integration. b. horizontal integration. c. a leveraged buyout. d. a conglomerate merger. e. a real shame since one of the hospitals will likely close.
The normal life-cycle pattern of income reflects differences in earnings based on
a. race and education b. gender and education c. age and education d. race e. household size
Monetarists argue that the Fed should frequently adjust the money supply in response to ever-changing economic conditions
a. True b. False Indicate whether the statement is true or false