A Bank Deposit Paying Simple Interest Grew from an Initial

question 204

Multiple Choice

A bank deposit paying simple interest grew from an initial sum of $1,000 to a sum of $1,045 in 9 mo. Find the interest rate. ​

• A) The interest rate is 7%/year.
• B) The interest rate is 6%/year.
• C) The interest rate is 7.2%/year.
• D) The interest rate is 5.5%/year.

---

Definitions:

Emotional Labour

The process of managing and regulating one's emotions to align with the expectations or requirements of a job or social situation.

Workday

The part of the day during which one is engaged in work-related activities, often defined by standard business hours.

Digital Divide

The gap between individuals who have access to modern information and communication technology and those who do not, affecting opportunities for economic and social participation.

High-Speed Internet

A broad term for internet service with significantly faster download and upload speeds, facilitating quicker access to online content and smoother streaming services.