BUSINESS ADMINISTRATION
BUSINESS MATHEMATICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$8.19
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$37.45
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$14.42
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$26.91
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Detailed explanation-1: -Money market yield is calculated by taking the holding period yield and multiplying it by a 360-day bank year divided by days to maturity.
Detailed explanation-2: -You can calculate the simple interest you’ll earn in a savings account by multiplying the account balance by the interest rate by the time period the money is in the account. Note that the interest in a savings account is money you earn, not money you pay. Here’s the simple interest formula: Interest = P x R x T.
Detailed explanation-3: -AI Recommended Answer: interest rate of 1% per annum, it will triple in size every three years.
Detailed explanation-4: -The one-time interest rate is 1.5%. But before you can use the rate of 1.5% you must convert it to a decimal. To change percent to a decimal, divide by 100: 1.5% ÷ 100 = 0.015.