What Is the Annual Interest Rate Earned on a Deposit

question 89

Multiple Choice

What is the annual interest rate earned on a deposit that grew from $60 to $111.06 over the last 8 years?

• A)14%
• B)12%
• C)8%
• D)6%

---

Definitions:

Total Expenses

The sum of all costs incurred by a business or individual within a specified period.

Customers Served

A metric or measure indicating the number of clients or customers who have been provided with services or goods by a business within a specific time frame.

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity levels, providing more accurate budgeting comparatives.

Variable Cost Estimates

Projections of costs that fluctuate with changes in production volume or activity levels, such as materials and labor.