At What Nominal Rate of Interest Compounded Quarterly Will

question 38

Multiple Choice

At what nominal rate of interest compounded quarterly will $ 13 000.00 earn $8407.27 in interest in six years? (nearest hundredth)

• A) 1.83%
• B) 2.10%
• C) 7.33%
• D) 8.4%
• E) 18.4%

---

Definitions:

Trophic Category

A classification of organisms based on their feeding positions and energy sources within an ecosystem.

Decomposer

Heterotroph that feeds on organic remains by breaking them down into smaller, absorbable subunits.

Mushrooms

Fungi that produce a distinctive fruiting body, often edible and used in cooking, but some species are poisonous or have medicinal properties.

Producer

Autotroph. Organism that makes its own food using energy and nonbiological raw materials from the environment.