The Day with the Smallest Number of Daylight Hours Over

question 100

Multiple Choice

The day with the smallest number of daylight hours over the course of the year for a person living in the Southern Hemisphere is the

• A) summer solstice (June 21).
• B) vernal equinox (March 20).
• C) winter solstice (Dec.21).
• D) autumnal equinox (Sept.23).
• E) The number of daylight hours is always the same.

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Definitions:

Compounded Quarterly

A method where interest is computed on the original amount as well as on the interest that has been added over prior periods, and this calculation occurs quarterly.

Quarterly Payment

A payment or installment made once every three months.

Future Value

The value of an investment at a specific date in the future, accounting for factors like interest rates and time.

Effective Rate of Interest

The actual interest rate earned or paid on an investment or loan, considering the effects of compounding.