Solve the Problem. -A Ship in the Atlantic Ocean Measures Its Position to Its

question 2

Multiple Choice

Solve the problem.
-A ship in the Atlantic Ocean measures its position to be 30°48' north latitude. Another ship is reported to be due north of the first ship at 41°17' north latitude. Approximately how far apart are the two ships? Round to the
Nearest mile. Assume that the radius of the Earth is 3960 miles.

• A) 725 mi
• B) 75,966 mi
• C) 75,991 mi
• D) 1,351 mi

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Definitions:

Basis Point

A unit of measure used in finance to describe the percentage change in the value or rate of a financial instrument, equal to 1/100th of 1%.

Bond Prices

The cost or value of a bond, which can fluctuate based on interest rates, credit quality of the issuer, and other factors.

Yields

Yields refer to the earnings generated and realized on an investment over a particular period, expressed as a percentage based on the investment’s cost, its current market value, or its face value.

Debentures

A type of debt instrument not secured by physical assets or collateral but based on the creditworthiness and reputation of the issuer.