Question
Two years ago, ZYX deposited $1,770 in an account that has earned and will earn 2.50 percent per year in compound interest. If BAC deposits
Two years ago, ZYX deposited $1,770 in an account that has earned and will earn 2.50 percent per year in compound interest. If BAC deposits $1,990 in an account in 2 years from today that earns simple interest, then how much simple interest per year must BAC earn to have the same amount of money in 9 years from today as ZYX will have in 9 years from today? Answer as an annual rate.
| 3.97% (plus or minus .05 percentage points) | ||
| 1.23% (plus or minus .05 percentage points) | ||
| 2.39% (plus or minus .05 percentage points) | ||
| 1.58% (plus or minus .05 percentage points) | ||
| None of the above is within .05 percentage points of the correct answer |
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The History Of Lloyd S And Of Marine Insurance In Great Britain
Authors: Frederick Martin
1st Edition
1421206269, 978-1421206264
