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%

---

Definitions:

Interest Coverage Ratio

A financial metric that measures a company's ability to pay interest on its outstanding debt with its operating income.

Money Multiplier

A concept in monetary economics that describes the maximum amount of money the banking system can theoretically generate with each unit of central bank money.

Accounts Receivable

Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.

Net Credit Sales

The total revenue from sales made on credit, minus any returns or allowances.