What Is the Quarterly Interest Rate That You Will Need

question 52

Multiple Choice

What is the quarterly interest rate that you will need to earn in order for an investment of $1635 to grow to be $1748.73 after 2.25 years?

• A) 12.93%
• B) 13.93%
• C) 10.93%
• D) 8.93%
• E) 3.00%

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Definitions:

Sternum

The long, flat bone located in the center of the chest, commonly known as the breastbone, connecting to the ribs via cartilage.

Process

A series of actions or steps taken in order to achieve a particular end.

Rib Cage

The structure formed by the ribs and their connecting tissues, enclosing and protecting the chest cavity and its organs, like the heart and lungs.

Rib Cage

The structure of bones including the ribs, sternum, and part of the spinal column that encloses and protects the thoracic cavity and its organs.