Determine the Interest Rate Earned on a $450 Deposit When

question 90

Multiple Choice

Determine the interest rate earned on a $450 deposit when $475 is paid back in one year.

• A) 0.89 percent
• B) 1.13 percent
• C) 5.56 percent
• D) 13.0 percent

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Definitions:

Predicting Behaviour

The process of forecasting or estimating the future actions or reactions of individuals or groups based on various psychological, sociological, or environmental factors.

Consumer's Control

The degree of influence that consumers have over their purchasing decisions and interactions with the marketplace.

Injunctive Norm

Rules in a society that are widely accepted and considered to be the normative standards of behavior.

Consistency Motive

An innate drive to maintain harmony and consistency in one’s beliefs, attitudes, and behaviors.