FIGURE EX 5-1 In Figure EX 5-1 above, the annual interest rate is ____.
A) .015%
B) 0.15%
C) 1.5%
D) 15%

Name: FIGURE EX 5-1 In Figure EX 5-1 above, the annual interest rate is ____. A) .015% B) 0.15% C) 1.5% D) 15%
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Question

FIGURE EX 5-1  In Figure EX 5-1 above, the annual interest rate is ____.
A) .015% 
B) 0.15% 
C) 1.5% 
D) 15%

Quizplus · Accepted Answer

The interest rate is shown as 1.5 on the y-axis, and there are no indicators to suggest that it should be interpreted differently (e.g. multiplied by 100 for a percentage). Therefore, the annual interest rate is 1.5%.

FIGURE EX 5-1 in Figure EX 5-1 Above, the Annual