How Much Must Be Placed in a Two-Month Term Deposit

question 195

Multiple Choice

How much must be placed in a two-month term deposit earning 4.8% in order to earn $275 interest?

• A) $12,500.00
• B) $5,729.17
• C) $23,333.33
• D) $34,375.00
• E) $53,333.33

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Definitions:

Cannibalization

A situation in which a new product or service significantly reduces the sales or market share of an existing product or service offered by the same company.

Co-Branding

A marketing partnership between at least two different brands of goods or services to leverage the strength of each brand.

Brand Equity

The value and strength of a brand that determines its worth, shaped by consumer perceptions, experiences, and associations.

Brand Awareness

Refers to how familiar the general public or target audience is with a brand and its products or services.