Suppose That You Had Deposited $100 in a Bank Account

question 130

Multiple Choice

Suppose that you had deposited $100 in a bank account for each of the last 5 years.What annual interest rate is attached to this account if there is now (at the end of the fifth year) $758.92 in the account?

• A)10%
• B)16%
• C)19%
• D)21%
• E)23%

---

Definitions:

Marketing Strategy

A comprehensive plan formulated by a business to achieve specific marketing goals and objectives through targeted actions.

Market Penetration

A measure of the amount of sales or adoption of a product or service compared to the total theoretical market for that product or service.

Existing Goods

Products that are already available in the market as opposed to newly launched or to-be-developed items.

Existing Customers

Individuals or entities that have previously purchased or are currently using a company's products or services.