Interest Rates Are Stated on an Annual Basis,therefore the Time

question 94

True/False

Interest rates are stated on an annual basis,therefore the time in the interest formula is always stated as one year.

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Definitions:

Host Organism

An organism that provides nourishment and shelter to a parasite or another organism residing within it.

Parasite

An organism that lives on or in a host organism and gets its food at the expense of its host.

Single-celled Organism

A living organism consisting of a single cell that performs all the necessary functions for life, examples include bacteria and protozoa.

Budding

A form of asexual reproduction seen in some plants, yeast, and certain animals, where a new individual grows from a certain point of the parent organism.