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A total of $36,000 was invested for one month in a new money market ac

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Joined: 02 Sep 2009
Posts: 55802
A total of $36,000 was invested for one month in a new money market ac  [#permalink]

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New post 26 Nov 2018, 23:29
00:00
A
B
C
D
E

Difficulty:

  25% (medium)

Question Stats:

73% (01:12) correct 27% (01:07) wrong based on 28 sessions

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Joined: 18 Aug 2017
Posts: 3935
Location: India
Concentration: Sustainability, Marketing
GPA: 4
WE: Marketing (Energy and Utilities)
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Re: A total of $36,000 was invested for one month in a new money market ac  [#permalink]

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New post 27 Nov 2018, 08:22
Bunuel wrote:
A total of $36,000 was invested for one month in a new money market account that paid simple annual interest at the rate of r percent. If the investment earned $360 in interest for the month, what is the value of r ?

A. 10.0
B. 10.5
C. 11.0
D. 12.0
E. 12.5


360= 36000 * r*1 / ( 100*12)

solve for r we get option D 12
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Re: A total of $36,000 was invested for one month in a new money market ac   [#permalink] 27 Nov 2018, 08:22
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