What APR Is Being Earned on a Deposit of $5,000

question 20

Multiple Choice

What APR is being earned on a deposit of $5,000 made 10 years ago today if the deposit is worth $9,848.21 today? The deposit pays interest semiannually.

• A) 3.56%
• B) 6.76%
• C) 6.89%
• D) 7.12%

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Definitions:

Jury Trials

Legal proceedings where a group of citizens is selected to hear the evidence and make a decision in a court case.

Administrative Agencies

Administrative agencies are government bodies responsible for administering laws and regulations, and overseeing the implementation and enforcement of policies within specific areas.

APA

The American Psychological Association, a leading scientific and professional organization representing psychology in the United States.

Informal Rule Making

A regulatory process allowing for the development and issuance of rules without a formal hearing.