How much interest could you earn over 2 months on an investment of $82,500 at 23.5%?
A) $3,231
B) $9,694
C) $6,942
D) $714
E) $4,216

Name: How much interest could you earn over 2 months on an investment of $82,500 at 23.5%? A) $3,231 B) $9,694 C) $6,942 D) $714 E) $4,216
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Question

Quizplus · Accepted Answer

The annual interest on $82,500 at 23.5% is $82,500 * 23.5% = $19,387.50. For 2 months (which is 2/12 of a year), the interest is $19,387.50 * (2/12) = $3,231.25, rounded to $3,231.

How Much Interest Could You Earn Over 2 Months on an Investment