Suppose You Lend $2,500 at 11

question 61

Multiple Choice

Suppose you lend $2,500 at 11.5% for 3 years.If the interest is compounded annually,how much interest will you receive in those 3 years?

• A) $862.50
• B) $965.49
• C) $3,362.50
• D) $2,465.49

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Definitions:

Medians

The middle value in a set of numbers, dividing the data set into two halves.

Histograms

A visual depiction showcasing how numerical data is spread out, illustrated through bars of varying heights.

Means

The average value in a data set, calculated as the sum of all values divided by the number of values.

Widely Dispersed

Describes data that is spread out over a large range, showing significant variability within the dataset.