An Investment of $2500 Is Made in an Account That $2.0 \%$

question 71

Multiple Choice

An investment of $2500 is made in an account that compounds interest quarterly. After years 30 the balance in the account is $26132.78. To the nearest tenth of a percent, what is the annual interest rate for this account?

• A) \(2.0 \%\)
• B) \(0.5 \%\)
• C) \(31.5 \%\)
• D) \(7.9 \%\)
• E) \(2.6 \%\)

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Definitions:

Sales Proposals

Detailed documents designed to offer services or products to potential clients, outlining the benefits, costs, and terms of a potential sale.

Buyer's Requirements

Specific criteria and preferences outlined by a buyer that a product, service, or supplier must meet in order to be considered for purchase.

Technical Terminology

Specialized language used within a specific field or industry.

Proposal Sections

Divisions within a proposal document, each serving a specific purpose, such as executive summary, project description, and budget.