With Interest of $1,832

question 32

Multiple Choice

With interest of $1,832.00 and a principal of $16,000 for 206 days, using the ordinary interest method, the rate is:

• A)20%
• B)12%
• C)2%
• D)10%
• E)None of these

---

Definitions:

One-Sample Z Test

Used to compare a sample mean to a population mean.

One-Sample Z-Test

A statistical test used to determine if the mean of a single sample is significantly different from a known or hypothesized population mean.

Null Hypothesis

A statement that proposes no significant effect or relationship exists between variables.

Average Rate

The measure of some quantity divided by the time taken to accumulate that quantity, indicating a rate of change or growth over a specified period.