Precision Engineering invested $110,000 at 6.5 percent interest,compounded annually for 4 years.How much interest on interest did the company earn over this period of time?
A) $2,481.25
B) $2,911.30
C) $3,014.14
D) $3,250.00
E) $3,333.33
Correct Answer:
Verified
Q17: Lisa has $1,000 in cash today.Which one
Q18: Jeff deposits $3,000 into an account which
Q19: Which one of the following is the
Q21: You just won $50,000 and deposited your
Q22: When you were born,your parents opened an
Q24: Which one of the following is the
Q24: Which one of the following is a
Q25: Twelve years ago,you deposited $3,400 into an
Q26: Your grandparents just gave you a gift
Q27: Centre Bank pays 2.5 percent interest,compounded annually,on
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents