George is the fire chief in a small town. He is looking for a new assistant chief, and he already has three candidates to consider. He is in the process of carefully considering their applications, conducting interviews, administering performance tests, and checking their references. What is this process called

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

What are the options?

The correct answer is:   6.99 billion (as 6.986 billion is rounded off (to nearest hundredth place)  to 6.99 billion)explanation: the given function is:   y = 6.2(1.01)^x (1)where x =    number of years after 2000it means that in 2012, the value of x would be 12 as the difference between 2012 and 2000 is 12 years.put x = 12 in equation (1): (1) => y =  6.2(1.01)^12 = 6.986 billion = 6.99 billion