An amount of money was deposited in the savings fund with an annual interest of -1 (8%), calculated every six months. What is the actual interest?
An amount of money was deposited in the savings fund with an annual interest of -1 (8%), calculated every six months. What is the actual interest?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Question 1: Choose the correct answer
An amount of money was deposited in the savings fund with an annual
interest of -1 (8%), calculated every six months. What is
the actual interest?
(The actual leader is (11.16%) 0
is O(9.16%). The effective interest
(The effective interest is (10.16%) 0
The actual leader is (8.16%) 0
A finance company loaned an engineering company
-2 ($100,000) to rehabilitate poorly constructed buildings.
The term of the loan was 3 years with a simple interest
(10%). How much will the company pay at the end of the
third year *?
The amount is (120,000) dollars
The amount is (130,000) dollars. 0
The amount is (150,000) dollars, 0
(The amount is (140,000) dollars. 0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5d85ff3c-0a4b-4c77-96d0-84d86cc3ec15%2F4ff07996-9ccb-49b4-856b-29c7c236ae99%2Fokjaetg_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 1: Choose the correct answer
An amount of money was deposited in the savings fund with an annual
interest of -1 (8%), calculated every six months. What is
the actual interest?
(The actual leader is (11.16%) 0
is O(9.16%). The effective interest
(The effective interest is (10.16%) 0
The actual leader is (8.16%) 0
A finance company loaned an engineering company
-2 ($100,000) to rehabilitate poorly constructed buildings.
The term of the loan was 3 years with a simple interest
(10%). How much will the company pay at the end of the
third year *?
The amount is (120,000) dollars
The amount is (130,000) dollars. 0
The amount is (150,000) dollars, 0
(The amount is (140,000) dollars. 0
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