One Year Ago,you Invested $7,000 in the No-Load Triple a Money

question 15

Multiple Choice

One year ago,you invested $7,000 in the no-load Triple A Money Market Fund.You have neither added to this account nor received any funds from this account since that time.The fund earned a 5.2 percent rate of return for the past year.How many shares of this fund do you currently own?

• A) 750.00
• B) 796.50
• C) 7,000.00
• D) 7,364.00
• E) 7,965.00

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Definitions:

Year 2

A term that indicates the second year in a series, often used in financial and operational planning to distinguish between different time periods.

Accounts Receivable Turnover

A financial ratio that measures how many times a company can turn its accounts receivable into cash within a period.

Year 2

A reference to the second year of operation, study, or observation, the specifics of which depend on the context.

Current Ratio

An indicator of how well a company can fulfill its short-term financial obligations within a year, calculated by the division of current assets by current liabilities.