Multiple Choice
What annual simple interest rate would be needed for $55,000 to grow to $60,000 over a term of 295 days?
A) 12.34%
B) 10.31%
C) 11.25%
D) 9.09%
E) 8.33%
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q70: A $7760 investment earning 6¼ % matured
Q71: An early payment of $4574.73 was accepted
Q72: A $14,400 loan taken out on May
Q73: Bruce borrowed $6000 from Darryl on November
Q74: A principal of $790 grew to $1000
Q76: $7348.25 was the amount required to pay
Q77: On May 27, Kristina made an investment
Q78: Calculate the missing value: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB9643/.jpg" alt="Calculate
Q79: How much interest could you earn over
Q80: Determine a) whether the earlier or later