Last month's loan payment included $412.50 interest on a $60,000 loan balance. What is the annual rate of interest?

A) 7 1/2 percent
B) 7 3/4 percent
C) 8 1/4 percent
D) 8 1/2 percent

Answer: D) 8 1/2 percent

Business

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A deed in which the grantor of real property transfers whatever interest he or she has in the property to the grantee is known as a ________

A) quitclaim deed B) general warranty deed C) grand deed D) special warranty deed

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In its 1984 Bildisco Manufacturing decision, the Supreme Court unanimously ruled that

a. strikers could be immediately fired by employers. b. supervisors could become union members. c. supervisors could not become union members. d. a company that had filed for bankruptcy could cancel its labor agreement without having to prove that the contract would cause it to go entirely broke.

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