Solve the Problem $8.5 \%$ B) $9.5 \%$ C) $9 \%$ D) $8 \%$

question 166

Multiple Choice

Solve the problem. Use the Annual Percentage Rate Table if necessary.
-Find the APR to the nearest half percent, for the following data.

• A) \(8.5 \%\)
• B) \(9.5 \%\)
• C) \(9 \%\)
• D) \(8 \%\)

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Definitions:

Cash On Hand

The total amount of cash or cash equivalents that a business or individual has accessible immediately.

Cash Equivalents

Short-term, highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

Illegal States

In computing, it refers to conditions or configurations of a system or application that are not permitted or that violate pre-defined rules.

Conversion Period

The time it takes for resources to go through the production process and become finished goods ready for sale.