License Plates Are Made Using 2 Letters Followed by 2

question 463

Multiple Choice

License plates are made using 2 letters followed by 2 digits. How many plates can be made if repetition of letters and digits is allowed?

• A) 67,600
• B) 6760
• C) 10,000
• D) 456,976

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Definitions:

Effective Interest Rate

The actual annual interest rate that takes compounding into account, providing a more accurate representation of the cost of borrowing.

Net 25

A payment term indicating that the full payment is due within 25 days from the invoice date.

365-Day Year

A calendar basis used in various financial calculations, assuming the year consists of exactly 365 days for simplifying interest and other time-sensitive computations.

Temporary Working Capital

The additional working capital needed to support fluctuations in business activity during peak periods.