Calculate the Amount of Interest That Would Be Earned on an Account

question 256

Multiple Choice

Calculate the amount of interest that would be earned on an account of $344,000 if it earned 4.95% for 37 days.

• A) $17,028
• B) $11,124
• C) $991
• D) $1,726
• E) $2,110

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Definitions:

Stratification

The arrangement or classification of society into layers or classes based on factors like wealth, occupation, or race.

Sociology

The systematic study of human behavior in social context.

Poverty Threshold

The minimum level of income deemed adequate in a particular country to live on; used to identify who is considered to be living in poverty.

Petty Bourgeoisie

A social class between the working class and the bourgeoisie, often including small business owners and self-employed individuals.