A Bank Pays a Quoted Annual (Simple)interest Rate of 8

question 31

Multiple Choice

A bank pays a quoted annual (simple) interest rate of 8 percent.However,it pays interest (compounds) daily using a 365-day year.What is the effective annual rate of return?

• A) 7.86%
• B) 7.54%
• C) 8.57%
• D) 8.33%
• E) 9.21%

Learn how to efficiently open and close databases and their related files.

Understand the importance of backing up databases for data security.

Recognize the structure of databases, including how data is organized and stored.

Understand the steps and requirements in creating and editing fields in Access tables.

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Definitions:

Charismatic

Possessing a charm and appeal that inspires devotion or enthusiasm in others.

Transformational Leadership

A leadership approach that causes change in individuals and social systems, emphasizing vision, inspiration, and intellectual stimulation.

Optimism

A mental attitude characterized by hope and confidence in success and a positive future.

Intellectual Stimulation

A leadership practice that encourages followers to think creatively and challenge existing assumptions.