If Alvin invests $5,500 today in a savings account, the money will grow to $8,500 at the end of Year 4. Assuming that the interest is paid once per year, the effective annual rate of the investment is _____.?
A. 10.82%?
B. ?11.50%
C. ?12.20%
D. ?12.85%
E. ?13.57%
Answer: B
You might also like to view...
Which of the following best describes the payables turnover?
A) Cost of goods sold/Average accounts payable B) Cost of goods sold +/-Change in inventory/Average accounts payable C) Average accounts payable/Cost of goods sold D) Average accounts payable/Cost of goods sold +/- Change in inventory
Flagler Electronics currently sells a camera for $240. An aggressive competitor has announced plans for a similar product that will be sold for $205. Flagler's marketing department believes that if the price is dropped to meet competition, unit sales will increase by 10%. The current cost to manufacture and distribute the camera is $175, and Flagler has a profit goal of 20% of sales. If Flagler meets competitive selling prices, what is the company's target cost?
A. $175. B. $164. C. $48. D. $192. E. $41.
Global Enterprises Corporation (GEC) engages in what some unhappy ex-employees and disgruntled consumers consider to be bad corporate behavior. These individuals post "horror stories" about GEC on rogue Web sites. By providing a forum for complaints, the potential for damage to the reputation of any corporation via the Internet has
a. decreased. b. increased. c. neither decreased nor increased. d. both decreased and increased.
In the context of the history of American business, which of the following statements is true of the entrepreneurship era?
A. Industrial titans exploited workers and decimated the environment. B. Large-scale entrepreneurs failed to dominate their markets. C. The overall standard of living across the country declined rapidly. D. The balance of power shifted from producers and toward consumers.