AFP
CTP · Question #435
CTP Question #435: Real Exam Question with Answer & Explanation
Sign in or unlock CTP to reveal the answer and full explanation for question #435. The question stem and answer options stay visible for context.
Question
- (Topic 5) A company transfers funds from its remote accounts by ACH with a one-day settlement and is notified of a same-day credit of $100,000 in one of its accounts. A wire transfer costs $27.75 incrementally. Assuming a 360-day year, which of the following is the minimum rate of interest that must be earned on these funds to justify the cost of a wire transfer?
Options
- A8.00%
- B9.25%
- C10.00%
- D10.50%
Unlock CTP to see the answer
You've previewed enough free CTP questions. Unlock CTP for full answers, explanations, the timed quiz mode, progress tracking, and the master PDF. Question stem and options stay visible so you can still see what's on the exam.