Find the Exact Interest to the Nearest Cent

question 90

Multiple Choice

Find the exact interest to the nearest cent.
-$99,000 at 7% for 135 days

• A)$2,620.11
• B)$2,598.75
• C)$2,563.15
• D)$2,656.50

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Definitions:

Inductive Reasoning

An analytical method where various propositions, assumed to be true or often validated as true, are amalgamated to reach a distinct conclusion.

Intuitive Thought

A cognitive process that creates immediate understanding or knowledge without evident rational thought and inference.

Concrete Reasoning

A form of thinking that is focused on the physical and the now, dealing primarily with observable or tangible facts rather than abstract concepts.

Analytic Thought

A cognitive process that involves breaking down complex information or concepts into smaller, more manageable parts for examination and evaluation.