Solve the Problem Using the Elimination Method

question 143

Multiple Choice

Solve the problem using the elimination method.
-A salesman sold $100 more than the rest of the sales staff. If the sales total for the day was $2250, how much did the rest of the sales staff sell?

• A)$1125
• B)$1175
• C)$1075
• D)$2150

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Definitions:

Coupon Bond

A type of bond that pays the holder a fixed interest rate (coupon) periodically until the maturity date, at which point the principal amount is paid back.

Horizon Analysis

Forecasting the realized compound yield over various holding periods or investment horizons.

Yield Curve

A graphical representation showing the relationship between the interest rates of bonds of the same credit quality but different maturities.

Holding Period

The duration of time an investment is held before being sold.