The Amount of Interest Earned by an Account Based on Simple

question 75

Multiple Choice

The amount of interest earned by an account based on simple interest varies jointly as the principal amount and the number of years the investment has been held. If a principal of $6000 invested for 3 Years earns $540.00 in interest, how much would be drawn by $4000 invested for 8 years?

• A) $480.00
• B) $545.00
• C) $960.00
• D) $360.00

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Definitions:

Received Defective

Term used when goods or products are received in a damaged or malfunctioning state from a supplier or during shipping.

EDI

Electronic Data Interchange, the structured transmission of data between organizations by electronic means.

Cycle Time

The time period required to complete one cycle of an operation or to produce a unit of product, often used as a measure of efficiency in manufacturing and business processes.

Productivity

The efficiency at which individuals, businesses, or systems produce goods or provide services, often measured by output per unit of input.