Exhibit 2-11

question 48

Multiple Choice

Exhibit 2-11.The accompanying relative frequency distribution represents the last year car sales for the sales force at Kelly's Mega Used Car Center. Refer to Exhibit 2-11.If Kelly's employs 100 salespeople,how many of these salespeople have sold at least 65 cars in the last year?

• A)22
• B)25
• C)31
• D)47

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Definitions:

Simple Interest Rate

A fixed percentage of the principal amount that is paid as interest for the use of borrowed funds, calculated on an annual basis without compounding.

Final Payment

The last installment paid on a loan, completing the payback of the total borrowed amount and any accrued interest.

Student Loans

Funds lent to students to help cover the cost of post-secondary education, which typically have to be repaid after graduation.

Interest Rates

The percentage of a sum of money charged for its use, typically expressed on an annual basis.