If Sloane Joyner Invests $10514

question 12

Multiple Choice

If Sloane Joyner invests $10514.81 now and she will receive $30000 at the end of 11 years what annual rate of interest will she be earning on her investment?

• A) 8%
• B) 8.5%
• C) 9%
• D) 10%

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Definitions:

$6 Per Box

A set price of six dollars for each box of a certain item or product.

Ten Years

This term refers to a period or duration of ten consecutive years.

Index Number

A numerical indicator that reveals variations in a single variable or a collection of variables across a period.

Sales Increased

An upward trend in the quantity or volume of goods or services sold by a business within a particular time frame.