$9600 Is Invested for 3 Months in a Savings Account

question 30

Multiple Choice

$9600 is invested for 3 months in a savings account with a rate of 9.5% simple interest per year. Find the interest.

• A) $2280.00
• B) $228.00
• C) $27,360.00
• D) $2736.00

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Definitions:

Utilitarian Justice

A principle in ethics and economics that a decision should be made so as to maximize overall happiness and reduce suffering among all people affected by the decision.

John Stuart Mill

A British philosopher and economist, known for his contributions to liberalism, utilitarianism, and political economy.

Income Redistribution

The policy or practice of adjusting the distribution of income in a society to achieve social or economic objectives.

Ideal Distribution

A theoretical distribution model that optimally allocates resources or products to meet demand efficiently.