Question 1: Choose the correct answerAn amount of money was deposited in the savings fund with an annualinterest of -1 (8%), calculated every six months. What isthe actual interest?(The actual leader is (11.16%) 0is O(9.16%). The effective interest(The effective interest is (10.16%) 0The actual leader is (8.16%) 0A 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 thethird year *?The amount is (120,000) dollarsThe amount is (130,000) dollars. 0The amount is (150,000) dollars, 0(The amount is (140,000) dollars. 0

1. Amount of Money is been deposited in the saving account with 8% semi annually. Needs to calculate…

Answered: An amount of money was deposited in the…

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?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 1MC

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