Find the Rate

question 105

Multiple Choice

Find the rate. Round to the nearest tenth of a percent.
-Principal: $8,000
Time: 90 days
Interest: $140.00

• A)34.6%
• B)7.0%
• C)7.1%
• D)1.8%

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Definitions:

Budgeted Purchases

This refers to the estimated amount of goods or services that a business plans to buy over a specific period, as set out in its budget.

Direct Materials Budget

A financial plan that estimates the raw materials necessary for production, considering planned inventory levels and production requirements.

Deluxe Product

A high-quality or superior product that is more expensive than other options in the market.

Regular Product

A standard or common product offered by a company that is routinely manufactured or provided.