Find the Interest Using the Banker's Rule

question 34

Multiple Choice

Find the interest using the Banker's rule. P = $4640, r = 9%, t = 150 days

• A) $188.78
• B) $191.40
• C) $174.00
• D) $171.62

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Definitions:

Federal Government

The central government of a federation that has specific powers over national concerns, while sharing other powers with subnational jurisdictions.

Compromise

A solution to a disagreement where all parties involved agree to concessions to reach a mutually acceptable outcome.