3 years ago

A person assumes all risks associated with any activity in which he or she participates.

1 answer:

3 0

It is <u>false </u>that a person assumes all risks associated with any activity in which he or she participates. This is not true because one person cannot bear all these risks, especially if there are multiple people involved. They should all face the risks and the consequences of their actions - it shouldn't be just one person, but also the people who are organizing that activity as well as the other participants.

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Jerryâ€™s loan had a principal of $22,000. He made quarterly payments of $640 for nine years until the loan was paid in full. Ho

kobusy [5.1K]

The amount Jerry paid in interest is $1,040.

The given details are:

Jerry's principal amount = $ 22,000,

quarterly payment for each quarter = $ 640

Total time for which Jerry paid each quarter = 9 years

As we know, one-year consists of nine quarters and therefore the nine years will consist of 36 quarters.

$\begin{aligned}\text{Total amount paid by Jerry}=\text{Quarterly payment} \times \text{No. of quarters}\end{aligned}$

$\begin{aligned}\text{Total amount paid by Jerry}={\$640} \times {36}\end{aligned}$

$\begin{aligned}\text{Total amount paid by Jerry}=\$23,040\end{aligned}$

Thus, the total amount paid by Jerry for nine years in each quarter is $23,040.

$\begin{aligned}\text{Amount of Interest}& = \text{Amount jerry paid} - \text{Principal Amount}\\\text{Amount of Interest}& = \$23,040-\$22,000\\\text{Amount of Interest} &= \$1040\end{aligned}$