Solve the Problem

question 89

Multiple Choice

Solve the problem. Round to the nearest hundredth, if necessary.
-What number is 4000% of 429?

• A) 171,600
• B) 17,160
• C) 1716
• D) 1,716,000

---

Definitions:

Present Value

The present-day valuation of coming monetary sums or cash flow sequences, upon applying a defined rate of return.

Compounded Annually

The process wherein the interest earned on an investment is added to the principal each year, and in the subsequent year, interest is earned on this new principal.

Market Rate

The prevailing price or interest rate available in the marketplace for goods, services, or securities at a given time.

Contract Rate

The interest rate stated in a contract, such as a loan or bond agreement.