If You Put $700 in a Savings Account at an Interest

question 92

Multiple Choice

If you put $700 in a savings account at an interest rate of 3%, how much money will you have in one year?

• A)$370.
• B)$679.61.
• C)$703.00.
• D)$721.

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Definitions:

Cutthroat Competition

An extremely aggressive competition where companies use strategies to undercut their rivals' prices.

Cartel

A coalition of producers or vendors aimed at keeping prices elevated by limiting competitive practices.

Concentration Ratio

Concentration ratio is a measure of the total output produced in an industry by a given number of firms, indicating the level of market competition.

Sales

The activities involved in selling goods or services to consumers or other businesses, generating revenue.