A government collects $700 billion annually in tax revenue. Each year it allocates $130 billion to interest payments that it must pay on its accumulated debt. What percentage of annual tax revenue is allocated to make these interest payments?
A. 17.15%
B. 28.75%
C. 18.57%
D. 27.58%
Answer:C
A government collects $700 billion annually in tax revenue. Each year it allocates $130 billion to interest payments that it must pay on its accumulated debt. What percentage of annual tax revenue is allocated to make these interest payments?
A. 17.15% B. 28.75% C. 18.57% D. 27.58%
Explanation: Type: Multiple Choice