Solve the Equation $$2 ( x - 1 ) = 10$$

question 357

Multiple Choice

Solve the equation. Round to the nearest thousandth.
- $$2 ( x - 1 ) = 10$$

• A) \(\{ 2.609 \}\)
• B) \(\{ 6.000 \}\)
• C) \(\{ 4.322 \}\)
• D) \(\{ 2.322 \}\)

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Definitions:

Semiannual Interest

Interest that is calculated and paid twice a year, often associated with bonds or loans.

Effective Rate

The actual interest rate that a borrower pays or earns, taking into account the compounding of interest.

Contract Rate

The pre-agreed interest rate specified in a financial contract or loan agreement.

Bond Premium

The additional amount over the face value for which a bond is sold, representing the difference between its selling price and its face value.