(Appendix 8A)(Ignore Income Taxes in This Problem

question 12

Multiple Choice

(Appendix 8A) (Ignore income taxes in this problem. ) You have deposited $15, 584 in a special account that has a guaranteed rate of return.If you withdraw $3, 700 at the end of each year for 5 years, you will completely exhaust the balance in the account.The guaranteed rate of return is closest to:

• A)6%
• B)19%
• C)24%
• D)4%

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Definitions:

Detrimental

Refers to something that causes damage, harm, or a negative effect.

Managerial Control

The authority and processes through which managers direct and organize resources, activities, and people to achieve organizational goals.

Job Classifications

A system of categorizing and organizing jobs based on duties, responsibilities, and often, compensation levels.

Management Practices

Encompasses the strategies, methods, and behaviors managers use to operate and guide organizations effectively towards their objectives.