Josh Earned $120 on $1500 Invested in a High Yield

question 55

Essay

Josh earned $120 on $1500 invested in a high yield money market account.He is taxed at 28% of his earnings.What is the effective yield on his investment?

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Definitions:

True Zero Point

In measurement scales, a true zero point indicates the absence of the quantity being measured, allowing for ratios to be meaningfully calculated.

Interval Level Variables

Interval level variables are a type of quantitative data where the intervals between values are meaningful, but the data lack a true zero point, allowing for the measurement of difference but not ratio.

Ratio Level Variables

Variables that have a true zero point and can be compared in terms of multiples.

Categorical

Pertaining to data or variables that represent categories, qualities, or characteristics without inherent numerical value.