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Home Q & A Board Science-Related Homework Help Mathematics
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neezy neezy
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11 months ago
Aidan cashed in a two-year term deposit after only eight months had elapsed. In order to do so, he accepted an interest rate penalty—a reduction from the scheduled 3.2% rate of simple interest. If he was paid $36 interest on the $2,000 term deposit, what reduction was made in the per annum rate of simple interest?

▸ 5.0%

▸ 5.5%

▸ 1.5%

▸ 0.5%

▸ 2.0%
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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BlondieXBlondieX
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11 months ago
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neezy Author
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11 months ago
You make an excellent tutor!
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Helped a lot
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