Calculate the Amount of Interest If $3000

question 124

Multiple Choice

Calculate the amount of interest if $3000.00 is invested at 6.25% from November 30, 2014 to May 15, 2015.

• A) $843.75
• B) $86.82
• C) $85.27
• D) $70.31
• E) $70.75

---

Definitions:

Foreign Exchange Rates

The price of one country's currency expressed in another country's currency, determining how much one currency is worth in terms of another.

Equality

The state of being equal, especially in status, rights, and opportunities.

Arbitrageurs

Traders who seek to profit from price discrepancies of the same asset in different markets, buying low in one market and selling high in another.

Speculator

Someone who buys or sells foreign exchange in hopes of profiting from fluctuations in the exchange rate over time.