Multiple Choice
Tim put $275 in the bank one year ago and forgot about it.Today,the bank sent Tim a statement indicating that he now has $294.25 in his account.What interest rate did Tim earn?
A) 5 percent
B) 6 percent
C) 7 percent
D) 8 percent
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q77: Bert put $75 into an account and
Q79: Suppose you put $500 into a bank
Q80: Albert Einstein once referred to compounding as<br>A)"an
Q81: Melissa offers you $1,000 today or $1,500
Q83: Imagine that someone offers you $100 today
Q84: Toni deposited $250 into an account and
Q85: Robert put $15,000 into an account with
Q86: Your accountant tells you that if you
Q87: If you put $1,000 in the bank
Q174: Suppose you are deciding whether to buy