If $30,000 Is Invested for One Year at an Annual

question 178

Multiple Choice

If $30,000 is invested for one year at an annual interest rate of 13%,it will grow in value to ________.

• A) $33,900
• B) $36,208
• C) $3900
• D) $32,308

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Definitions:

Services

Intangible products such as expertise, assistance, or access to resources provided by businesses or professionals.

Accounting Period

A specific time period for which financial records and statements are prepared for a business or organization.

One Quarter

A term referring to one-fourth of a year, used in financial and business contexts to divide the fiscal or calendar year into four periods for reporting purposes.

One Year

A period consisting of 12 consecutive months.