Use the Following to Answer Questions

question 6

Short Answer

Use the following to answer questions :
The annual salaries of six employees of a company are as follows:
$22,000 $35,000 $22,000 $46,000 $57,000 $51,000
-The mode of the salaries of these employees is:

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Definitions:

Stated Rate

The interest rate expressed in the terms of a loan or investment agreement, not necessarily reflecting the actual yield.

Effective Rate

The effective rate is the actual interest rate on a loan or financial product, taking into account the compounding of interest, as opposed to the nominal rate.

Debenture Bond

A debenture bond is a type of unsecured loan that is backed only by the general creditworthiness and reputation of the issuer, not by any collateral.

Unsecured Bond

A bond not backed by specific collateral, relying solely on the issuer's creditworthiness for investor confidence.