Express the Rational Number in Reduced Form $\frac { 24 } { 30 }$

question 79

Multiple Choice

Express the rational number in reduced form. $\frac { 24 } { 30 }$

• A) \(\frac { 4 } { 5 }\)
• B) \(\frac { 5 } { 6 }\)
• C) \(\frac { 1 } { 5 }\)
• D) \(\frac { 1 } { 2 }\)

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Definitions:

Market Rate

The prevailing interest rate available in the marketplace for investments, loans, and savings, often influenced by supply and demand forces, central bank policies, and economic conditions.

Journal Entry

A single record that reflects the debit and credit effects of a financial transaction in the accounting system.

Coupon Rate

The yearly interest yield on a bond, shown as a percent of the bond's nominal value.

Effective-Interest Method

An accounting method to amortize the discount or premium on bonds payable or receivable over the bond's life, reflecting a constant rate of interest.