Solved

Fred Puts $5,475 into a Term Deposit on May 15th

Question 285

Multiple Choice

Fred puts $5,475 into a term deposit on May 15th. The deposit earns a simple interest rate of 4%. If the term deposit will mature on August 14th, how much interest will Fred earn?


A) $35.40
B) $24.80
C) $36.00
D) $36.60
E) $54.60

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q275: An investment of $ 19,250 grew to

Q276: Barkley's Bookkeeper is accounting for a cheque

Q277: Mike is supposed to pay $750 to

Q278: After a term of 23 days, a

Q279: Two debt payments of $2,000 each are

Q280: What amount received on January 13 is

Q281: Mario borrowed $6,000 on March 1 at

Q282: How much money would one have to

Q283: What payment, 174 days from now, is

Q284: What amount on January 23 is equivalent