A Monthly Interest Rate of 1% Is a Compounded Annual

question 35

Multiple Choice

A monthly interest rate of 1% is a compounded annual rate of:

• A)12.00%
• B)10.00%
• C)14.11%
• D)6.00%

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Definitions:

Universal Rights

Universal rights are fundamental rights and freedoms that are considered to be entitled to all humans regardless of nationality, gender, ethnic origin, religion, or any other status.

Greatest Good

A principle often associated with utilitarianism, which suggests that actions should be judged as morally right if they contribute to the highest good or happiness for the greatest number of people.

Moral Idealism

An ethical philosophy which considers certain actions as inherently right or wrong, regardless of their outcomes.

Utilitarianism

An ethical theory that posits the best action is the one that maximizes utility, typically defined as that which produces the greatest well-being of the greatest number of people.