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An amount of money was deposited in the savings fund with an annual interest of -1 (8%), calculated every six months. What is the actual interest?

An amount of money was deposited in the savings fund with an annual interest of -1 (8%), calculated every six months. What is the actual interest?

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 1EA: Campus Flights takes out a bank loan in the amount of $200,500 on March 1. The terms of the loan...
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Question 1: Choose the correct answer An amount of money was deposited in the savings fund with an annual interest of -1 (8%), calculated every six months. What is the actual interest? (The actual leader is (11.16%) 0 is O(9.16%). The effective interest (The effective interest is (10.16%) 0 The actual leader is (8.16%) 0 A finance company loaned an engineering company -2 ($100,000) to rehabilitate poorly constructed buildings. The term of the loan was 3 years with a simple interest (10%). How much will the company pay at the end of the third year *? The amount is (120,000) dollars The amount is (130,000) dollars. 0 The amount is (150,000) dollars, 0 (The amount is (140,000) dollars. 0
Transcribed Image Text:Question 1: Choose the correct answer An amount of money was deposited in the savings fund with an annual interest of -1 (8%), calculated every six months. What is the actual interest? (The actual leader is (11.16%) 0 is O(9.16%). The effective interest (The effective interest is (10.16%) 0 The actual leader is (8.16%) 0 A finance company loaned an engineering company -2 ($100,000) to rehabilitate poorly constructed buildings. The term of the loan was 3 years with a simple interest (10%). How much will the company pay at the end of the third year *? The amount is (120,000) dollars The amount is (130,000) dollars. 0 The amount is (150,000) dollars, 0 (The amount is (140,000) dollars. 0
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