What Rate of Interest Was Earned for $2,000 to Accumulate

question 100

Multiple Choice

What rate of interest was earned for $2,000 to accumulate to be $226,560 after 30 years?

• A)4%
• B)5%
• C)6%
• D)7%
• E)8%

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Definitions:

Pie Chart

Figure that uses a circle divided into proportions to represent the percentage of the sample corresponding to each value of a variable.

Frequency Polygon

A graphical representation of a frequency distribution with line segments connecting points directly above class midpoint values on the horizontal axis.

Histogram

Figure that uses connected bars to represent the frequency of each value of a variable.

Frequency Polygon

A graphical representation of a distribution; it displays the number of observations within a given interval represented by a line connecting points.