Question
Question 16 If the interest of $675 earned over 3 years on an investment of $3,000, the simple interest rate is: a. 7.50% b.
Question 16
If the interest of $675 earned over 3 years on an investment of $3,000, the simple interest rate is:
| a. | 7.50% | |
| b. | 5.7% | |
| c. | 0.075% | |
| d. | 6.75% |
Question 17
What principal will accumulate to $2550 in 9 months if the simple interest rate is 9% per annum?
| a. | $2388.76 | |
| b. | $2320.76 | |
| c. | $2350.76 | |
| d. | $2688.76 |
Question 18
An amount of $12,000 is invested in a bank account for two and a half years. The account pays interest of 6% per annum compounded monthly for the first 18 months, then at 7% per annum compounded monthly for a year. If no withdrawal is made the amount of money held in the account is:
| a. | $140752.11 | |
| b. | $12000.00 | |
| c. | $140733.11 | |
| d. | $14076.11 |
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
