Determine the Interest Rate Earned on a $450 Deposit When

question 90

Multiple Choice

Determine the interest rate earned on a $450 deposit when $475 is paid back in one year.

• A) 0.89 percent
• B) 1.13 percent
• C) 5.56 percent
• D) 13.0 percent

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Definitions:

Goods Value

Goods value represents the importance, worth, or usefulness of a product or service to buyers, often determined by its price, quality, and utility.

Market Supply

The total quantity of a good or service that all producers are willing and able to sell at various prices in a given market.

Competitive Market

A market structure characterized by a large number of buyers and sellers, where no single participant has the power to significantly influence prices.

Market Prices

The current prices at which goods and services can be bought or sold in a marketplace, determined by supply and demand forces.