How Long Would It Take for a $25,000 Investment to Earn

question 108

Multiple Choice

How long would it take for a $25,000 investment to earn $2,000 interest at 13.5%?

• A) 271 days
• B) 125 days
• C) 59 days
• D) 217 days
• E) 169 days

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Definitions:

Profit-Sharing Plan

A system whereby an employer pays compensation or benefits to employees, usually on an annual basis, in addition to their regular wage, on the basis of the profits of the company.

Pension Benefits Standards Act

Legislation regulating private sector pension plans, setting minimum standards for funding, governance, and the rights of plan participants.

Private Pension Plan

A retirement plan established by an employer or a union that provides an income to employees after retirement, funded primarily through employer contributions.

GST

Goods and Services Tax; a value-added tax levied on most goods and services sold for domestic consumption.