Robert Put $15,000 into an Account with a Fixed Interest

question 85

Multiple Choice

Robert put $15,000 into an account with a fixed interest rate two years ago and now the account balance is $16,917.66.What rate of interest did Robert earn?

• A)4.5 percent
• B)5.4 percent
• C)6.2 percent
• D)8.0 percent

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Definitions:

Laissez-Faire

An economic philosophy of free-market capitalism that opposes government intervention.

Unregulated Care Provider (UCP)

A health care worker who is not regulated by a professional body but who provides care support under the supervision of a regulated health professional.

Decentralized Management

A management strategy where decision-making authority is dispersed throughout various levels of the organization rather than being concentrated at the top.

Centralized Structure

An organizational structure where decision-making authority is concentrated at the top level, and lower levels have limited power.