Business cycles are
a. alternating periods of expanding and contracting economic activity, which are usually illustrated using movements in real gdp.
b. all roughly the same in duration and severity.
c. alternating periods of smoothly expanding and contracting economic activity, which are usually illustrated using movements in nominal gdp.
d. alternating periods in which real gdp increases in an expansion to a business cycle trough and then decreases in a recession to a business cycle peak.

The answer is: A) Alternating periods of expanding and contracting economic activity, which are usually illustrated using movements in real GDP.

Explanation:

The stages of a business cycle (also known as economic cycle) are:

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23