If the Nominal Per Annum Interest Rate Is 6%, Then

question 48

Multiple Choice

If the nominal per annum interest rate is 6%, then the interest rate per quarter is:

• A) 6%.
• B) 3%.
• C) 1.5%.
• D) 24%.

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Definitions:

Humus

The organic component of soil, formed by the decomposition of leaves and other plant material by soil microorganisms.

Leaching

The process where water carries soluble substances or small particles through the soil or other permeable material.

Dissolving

The process by which a solid, liquid, or gas forms a solution in a solvent, becoming evenly dispersed at the molecular or ionic level.

Upper Layers

Refers to the surface or higher levels of an object, area, or system.