An Investment Earning 16% Simple Interest Has a Maturity Value

question 101

Multiple Choice

An investment earning 16% simple interest has a maturity value of $9,440.00 after eight months. What was the initial amount invested?

• A) $8,530.12
• B) $10,446.93
• C) $7,228.92
• D) $8,853.33
• E) $7,780.22

---

Definitions:

Practical Reasons

Reasons or motives based on practicality or usefulness, rather than theoretical or ethical considerations.

Sexual Harassment

Unwelcome or inappropriate sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature.

Naturalistic Observation

A research method in which subjects are observed in their natural environment without interference from the researchers.

Assembly Line

A manufacturing process in which parts are added to a product in a sequential manner to create a finished product more efficiently.