When He Was 18,Hussam Put $100 into an Account at an Interest

question 125

Multiple Choice

When he was 18,Hussam put $100 into an account at an interest rate of 8 percent.He now has $158.69 in this account.For how many years did Hussam leave this money in his account?

• A)5 years
• B)6 years
• C)7 years
• D)8 years

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Definitions:

Variable Cost

Costs that move in correspondence with the quantity of products made or services sold.

Fixed Costs

Expenses that do not vary with production volume or business activity level, such as rent, salaries, and insurance premiums.

Operating Leverage

A measure of how revenue growth translates into growth in operating income, indicating the extent to which a firm uses fixed versus variable costs.

Variable Cost

Costs that change in proportion to the level of output or activity in a business.