Assume the Average Management Cost Per Account Per Year Is

question 20

Multiple Choice

Assume the average management cost per account per year is $200 and the average fees earned per account per year is $170. The average annual size of account is $1800. What is the average implicit interest rate (round to two decimals) ?

• A) -1.67 per cent
• B) 1.67 per cent
• C) 4.86 per cent
• D) 15 per cent

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Definitions:

Mammals

Warm-blooded vertebrate animals with hair or fur, females of which secrete milk for the nourishment of the young.

Developed Nations

Countries with a high level of economic development, characterized by high income per capita, advanced technology, and a well-developed infrastructure.

Animals

Multicellular, eukaryotic organisms in the kingdom Animalia that are capable of voluntary movement and sensory reception.

Research

The systematic investigation into and study of materials and sources in order to establish facts and reach new conclusions.