Your Accountant Tells You That If You Can Continue to Earn

question 37

Multiple Choice

Your accountant tells you that if you can continue to earn the current interest rate on your balance of $750 for the next three years,you will have $944.78 in your account.If your accountant is correct,then what is the current interest rate?

• A)6 percent
• B)7 percent
• C)8 percent
• D)10 percent

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Definitions:

Balance Sheet

A financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time.