Solve the Problem $\$ 2700$ Investment to Earn $\$ 500$ Interest If It Is Invested At

question 259

Multiple Choice

Solve the problem.
-Find out how long it takes a $\$ 2700$ investment to earn $\$ 500$ interest if it is invested at $8 \%$ compounded quarterly. Round to the nearest tenth of a year. Use the formula $A = P \left( 1 + \frac { r } { n } \right) ^ { n t }$ .

• A) \(2.1\) years
• B) \(2.3\) years
• C) \(1.9\) years
• D) \(2.5\) years

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Definitions:

FAB

Features, Advantages, and Benefits; a sales methodology focusing on communicating the features, advantages, and benefits of a product or service.

Persuasive Communication

The ability to convince others to adopt a certain viewpoint or to take a specific action through effective verbal or written messages.

SELL Sequence

A methodical approach in sales that involves Showing the feature, Explaining the advantage, Leading into the benefit, and Letting the customer respond.

SWOT Analysis

A strategic planning tool used to identify and analyze the Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.