Joe Bought a Nine-Month CD for $1500

question 36

Multiple Choice

Joe bought a nine-month CD for $1500. He said that at maturity it paid $82.13 in simple interest. Compute the corresponding yearly interest rate.

• A)6.8%
• B)6.9%
• C)7.1%
• D)7.3%

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Definitions:

Meganational Strategy

A business approach focused on operating and competing globally, while balancing both local responsiveness and global integration.

Autonomy to Adapt

The ability of an entity or individual to independently modify behaviors or methods in response to changing conditions.

Low-Cost Strategy

Low-cost strategy is a competitive approach where a company aims to become the lowest cost producer in its industry, offering products or services at a price lower than its competitors to attract cost-sensitive customers.

Differentiation Strategy

A business strategy where a company seeks to distinguish its products or services from competitors, typically through quality, design, or unique features.