Compute the Simple Interest Earned on a 1-Year $200 Deposit

question 52

Multiple Choice

Compute the simple interest earned on a 1-year $200 deposit that earns 6% per year.

• A) $6
• B) $60
• C) $120
• D) $12
• E) $200

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Definitions:

Transferable Partnership Interest

The aspect of a partner's share in a partnership that can be transferred or sold to another party, subject to the partnership agreement.

Judgment

A formal decision or conclusion by a judge or court at the end of a lawsuit.

Legal Partnership

A business structure where two or more individuals manage and operate a business in accordance with the laws and regulations, sharing profits and liabilities.

Public-Private Partnership

A cooperative arrangement between one or more public sectors and private sectors, aimed at funding, designing, implementing, and operating services or infrastructure.