Suppose you have put $50 in an interest-bearing account and you want to double the amount of money in the account. What calculation would you use to determine how many years it would take to double your money?
A) Divide 50 by the interest rate and add 2.
B) Divide 72 by the interest rate.
C) Multiply the interest rate by 2.
D) Add the interest rate to 5.
B
Business
You might also like to view...
Financial statements provide vital information, to managers, regarding an organization's current _______ position.
A. liquidity and solvency B. assets and affluence C. liquidity and wealth D. assets and solvency E. cash flow and solvency
Business
Socialization is the process where explicit knowledge is transferred through observation, imitation, meeting, and practice from one individual to another
Indicate whether the statement is true or false
Business