You Decide to Deposit Your Money in a Bank Account

question 60

Multiple Choice

You decide to deposit your money in a bank account paying 6% interest.If the value of your savings grows to $3,180 in one year's time,how much money did you deposit?

• A)$3,180
• B)$3,371
• C)$3,000
• D)$3,100
• E)$3,080

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Definitions:

Transfer Price

The price at which goods and services are sold between divisions within the same company.

General Rule

A basic or principal rule that provides guidance or policy in a given area or operation.

Transfer Price

The price at which goods and services are transferred between departments or subsidiaries of the same company.

Variable Cost

Costs that vary directly with the level of production or sales volume, such as raw materials or direct labor.