First Use Front-End Rounding to Write an Estimate of the Answer

question 179

Multiple Choice

First use front-end rounding to write an estimate of the answer, and then subtract the decimals to obtain an exact answer.
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• A)Estimate: 34, exact: 35.49
• B)Estimate: 36, exact: 35.41
• C)Estimate: 36, exact: 35.49
• D)Estimate: 36, exact: 35.39

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Definitions:

Investment

An asset or item acquired with the goal of generating income or appreciation.

Compounded Monthly

Describes the method of computing interest by adding the interest from past periods to the original principal amount and then doing the calculations monthly.

Rate of Return

The earnings or losses accrued from an investment over a predetermined period, measured as a fraction of the investment's buying price.

Interest Rate

The interest rate is the percentage charged on the total amount borrowed or invested, representing the cost of borrowing or the earning from an investment over a specified period.