Answer:
b. $2,000
Explanation:
The computation of the interest amount is shown below:
= Sale value of goods × rate of interest × (number of months ÷ total number of months in a year)
= $40,000 × 10% × (6 months ÷ 12 months)
= $2,000
The 6 months is calculated from June 30 to December 31.
So, the b option is correct and rest options are wrong.
Answer:
B. A receipt.
Explanation:
A receipt is normally given to the person after he or she purchased something, in case if the person wants a refund or etc he can use the receipt for evidence to be able to do so.
Answer:
b. Used to estimate how fast prices will double using a given annual inflation rate
Explanation:
Rule of 72 is a fast statistical method to determine how long an investment will double given annual interest rate.
Simply divide 72 by the annual interest rate.
Alternatively it can be used to calculated annual rate of return required to double investment.
Alternatively it can be used to calculate annual rate of return required to double an investment.
For example if $1,000 is to be doubled in 5 years.
Years to double= 72/ Interest
Interest= 72/5= 14.4%
