Multiple Choice
If you have a choice to earn simple interest on $10,000 for three years at 8% or annually compounded interest at 7.5% for three years which one will pay more and by how much?
A) Simple interest by $50.00
B) Compound interest by $22.97
C) Compound interest by $150.75
D) Compound interest by $150.00
E) None of these.
Correct Answer:
Verified
Correct Answer:
Verified
Q16: You are considering two insurance settlement offers.
Q17: Which of the following statements concerning the
Q18: What is the future value of $1,000
Q19: Bradley Snapp has deposited $6,000 in a
Q20: You have $2,500 that you want to
Q22: Your rich uncle establishes a trust in
Q23: What is the annual percentage rate on
Q24: If a business takes out a $10,000,7
Q25: You are buying a previously owned car
Q26: One year ago,the Jenkins Family Fun Center