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:

Stakeholders

The groups of people affected by a firm’s decisions.

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives, often involving judgment, evaluation, and reasoning.

Consequentialism

A general approach to ethical dilemmas which requires that we consider the consequences our actions will have on relevant people.

Rigid Set

In mathematics, a set whose members adhere to strict criteria or definitions, often used in contrast to more flexible or loosely defined collections.