Solved

Interest of $1,632 with Principal of $16,000 for 306 Days

Question 88

Multiple Choice

Interest of $1,632 with principal of $16,000 for 306 days (ordinary interest) results in a rate of:

A) 10%
B) 12%
C) 12 1/2%
D) 13%
E) None of these

Related Questions

Q83: Use ordinary interest: <span class="ql-formula"

Q84: The U.S. Rule: A)Is used only by banks B)Is

Q85: At maturity, using the U.S. Rule, the

Q86: Tom borrowed $150,000 for his son Jeff's

Q87: 18 months is the same as 1.5

Q89: Match the following terms with their definitions. -Principal A)360

Q90: The Banker's Rule is the same as

Q91: Solve: <span class="ql-formula" data-value="\begin{array} {

Q92: Janet Home went to Citizen Bank. She

Q93: Given interest of $11,900 at 6% for