Funtime Corporation Assume That Funtime Corp

question 75

Multiple Choice

Funtime Corporation Assume that Funtime Corp.has agreed to construct a new playground for Durrey County for $2,300,000.Construction of the new playground will begin on March 17,2012 and is expected to be completed in August 2013.At the signing of the contract Funtime Corp.estimates that the it will cost $1,600,000 to build the playground.
At the end of 2012 Funtime provided the following information about the project:
What percentage is playground complete?

• A) 62.5%
• B) 43.5%
• C) 55.6%
• D) 50.0%

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Definitions:

Principal

The initial amount of money loaned or invested, excluding any interest or dividends.

Interest

The charge for borrowing money or the return on investment, typically expressed as a percentage.

Maturity Value

The total amount that will be paid out or received at the end of an investment period, including principal and interest.

Investment

The act of managing money with the purpose of earning extra revenue or profit.