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Year Opening Balance Interest @ 10% Closing Balance 1 1.0000 0.1000 1.1000 2 1.1000 0.1100 1.2100 3 1.2100 0.1210 1.3310 ag 4 1.3310 0.1331 1.4641
Year Opening Balance Interest @ 10% Closing Balance 1 1.0000 0.1000 1.1000 2 1.1000 0.1100 1.2100 3 1.2100 0.1210 1.3310 ag 4 1.3310 0.1331 1.4641 5 1.4641 0.1464 1.6105 6 1.6105 0.1611 1.7716 7 1.7716 0.1772 1.9487 8 1.9487 0.1949 2.1436 9 2.1436 0.2144 2.3579 10 2.3579 0.2358 2.59371 Using the table above, the interest earned (at a 10% interest rate) on $1,000 in year 7 is: Select one: a. $0.18 O b. $1,949 o c. $2,594 O d. $177
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Internal Auditing: Principles And Techniques
Authors: Richard L. Ratliff, W. Wallace, Walter B. Mcfarland, J. Loeboecke
1st Edition
0894131672, 978-0894131677
