In a Group of Five Individuals,two Report Annual Incomes of $10,000,and

question 50

Multiple Choice

In a group of five individuals,two report annual incomes of $10,000,and the other three report incomes of $14,000,$15,000,and $31,000,respectively.The mode of this group's distribution of annual incomes is

• A) $10,000.
• B) $15,000.
• C) $16,000.
• D) $31,000.

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Definitions:

Equal Payments

Payments of the same amount over a specified period of time.

Surplus Cash

Excess funds that a business or individual has, which are not needed for immediate operational expenses or reserved funds.

Settle Its Debt

The action or process by which an entity fulfills its financial obligations, clearing outstanding liabilities.

Interest Owed

The amount of interest that has been incurred on a loan or debt but has not yet been paid.