Answer
False.
Work Step by Step
False. The amount described in the text is the interest which is different from the rate of interest.
Precalculus: Concepts Through Functions, A Unit Circle Approach to Trigonometry (3rd Edition)
by Sullivan III, Michael
Published by
Pearson
ISBN 10:
0-32193-104-1
ISBN 13:
978-0-32193-104-7
Appendix A - Review - A.9 Problem Solving; Interest, Mixture, Uniform Motion, Constant Rate Job Applications - A.9 Assess Your Understanding - Page A78: 4
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