With an Effective Annual Interest Rate of 10

question 64

Multiple Choice

With an effective annual interest rate of 10.04%,how much finance can a company raise by drawing a commercial bill with a face value of $100 000,maturing in 180 days?

• A)$96 400
• B)$95 121
• C)$90 580
• D)$81 822

---

Definitions:

Economic Development

The process through which a region improves the economic, political, and social well-being of its people.

Democratic Government

A form of government in which power is vested in the people and exercised by them directly or through freely elected representatives.

Collectivization

The process of transforming private assets, properties, or industries into collectively owned entities, often associated with communist or socialist policies.

Relative Deprivation Theory

A theory suggesting that individuals who perceive themselves as having less resources or social advantages than others in their group or society are more likely to engage in social movements or deviant behaviors.