How Much Must Be Placed in a Two-Month Term Deposit

question 195

Multiple Choice

How much must be placed in a two-month term deposit earning 4.8% in order to earn $275 interest?

• A) $12,500.00
• B) $5,729.17
• C) $23,333.33
• D) $34,375.00
• E) $53,333.33

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Definitions:

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, aimed at standardizing practices across states.

Business Activities

All actions undertaken by a company as part of its commercial, industrial, or professional operations, including production, selling, and administration.

Sales Laws

Regulations governing the sale of goods and services, including terms of contracts, warranties, and consumer protections.

Executive Branch

The division of a government responsible for implementing and enforcing laws, typically led by the President or Prime Minister.