Manchester Technology Has the Following Data Available $\begin{array}{l}\text {Wages Payable, December 31, 2013} & \$ 20 \\\text {Wages Payable, December 31, 2012} & \$15 \\\end{array}$

question 26

Multiple Choice

Manchester Technology has the following data available:
$\begin{array}{l}\text {Wages Payable, December 31, 2013} & \$ 20 \\\text {Wages Payable, December 31, 2012} & \$15 \\\end{array}$
What is the percentage increase or (decrease) in wages payable from 2012 to 2013 for Manchester Technology?

• A)(33.3)%
• B)(25.0)%
• C)(12.5)%
• D)25.0%
• E)33.3%

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Definitions:

Periodic Interest Rate

The rate of interest charged on a loan or earned by an investment for a duration that is less than one year.

Annuity

An economic scheme that delivers a constant payment stream to a recipient, predominantly utilized in preparing for retirement.

Payment Interval

The frequency with which a recurring payment is made, such as monthly or annually.

Ordinary General Annuity

An annuity where payments are made at the end of each period, such as monthly or annually, in contrast to at the beginning.