Josh Earned $84 on $1,200 Invested in a High Yield

question 66

Essay

Josh earned $84 on $1,200 invested in a high yield money market account.He is taxed at 22% of his earnings.What is the after-tax yield on his investment?

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Definitions:

Treaty

A formal and binding agreement between sovereign states or international entities, often in written form, pertaining to international law.

Lease

A contract by which one party conveys land, property, services, or goods to another for a specified time, usually in return for a regular payment.

Consideration

The value (such as money, a promise, or a service) exchanged between parties in a contract, making the agreement legally binding.

Right to Possession

The legal authority to control or occupy a piece of property, either by ownership or by lease.