Choose the One Alternative That Best Completes the Statement or Answers

question 442

Multiple Choice

Choose the one alternative that best completes the statement or answers the question.
Solve the problem.
-Which of the two rates would yield the larger amount in 1 year: 5.2% compounded monthly or 5.1% compounded daily?

• A) 5.2% compounded monthly
• B) 5.1% compounded daily
• C) They will yield the same amount.

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Definitions:

Demand

The consumers' willingness and ability to purchase goods or services at a given price.

Instrument

A formal document, such as a contract, will, or security, that legally records a right, obligation, or transaction.

Good Faith

The honest intention to act without taking an unfair advantage over another party, based on the belief that others will similarly act honestly.

Altered

Changed, modified, or adjusted from the original state or form.