If You Receive $100 000 Back as Principal and Interest

question 30

Multiple Choice

If you receive $100 000 back as principal and interest for an investment of $92 368 that you made six months earlier,what simple rate of interest has been earned on your investment?

• A) 7.63% per annum
• B) 15.48% per annum
• C) 16.16% per annum
• D)16.75% per annum

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Definitions:

Resocialization

The process by which one's sense of social values, beliefs, and norms are reengineered, often deliberately, through an intense social process that may involve considerable stress or effort.

Stages of Development

This term describes the sequential phases of growth or progress in a particular area, often used in psychology, sociology, and economics to model change over time.

George Herbert Mead

An American philosopher, sociologist, and psychologist, known for his work in developing the theory of social behaviorism and symbolic interactionism.

Cognitive Development

The process through which individuals acquire and understand knowledge, including thinking, problem-solving, and decision-making capabilities.