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AFC Personal Financial Literacy and Economics S2
Banking and Financial Institutions
Question 10
10
Quiz
Multiple Choice
Banking and Financial Institutions
Question 10 • AFC Personal Financial Literacy and Economics S2
Tran got a loan of $10,000 from the bank to help pay for his new car. He agreed to pay $800 in interest for the use of this money.
Answer
A
800 ÷ 10,000 = .08
B
10,000 ÷ 800 = 12.5
C
10,000 – 800 = 9,200
D
10,000 + 800 = 10,800
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