A Bank Pays a Simple Interest Rate of 8% Per

question 7

Multiple Choice

A bank pays a simple interest rate of 8% per annum on 40-day GICs. What is the annualized rate of return?

• A) 8.00%
• B) 8.29%
• C) 8.77%
• D) 9.13%
• E) 8.53%

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Definitions:

Culture

Culture encompasses the beliefs, norms, values, and practices shared by a group of people, shaping their behavior and perceptions.

Ethos

The characteristic spirit of a culture, era, or community as manifested in its beliefs and aspirations; in rhetoric, the ethical appeal or credibility of the speaker.

Aesthetic Principles

The standards that guide judgments about what is considered beautiful, pleasing, or artful.

Crescive Norms

Unwritten, societal rules that are discovered through interaction rather than being formally taught.