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The Probability of a Grave Accident While Attempting to Get

question 31

Multiple Choice

The probability of a grave accident while attempting to get to the polls is higher than the probability of swaying a national election with a single vote. This leads scholars to ask, "Why does anyone even bother to vote in mass elections?" This is an example of ________.


Definitions:

Periodic Rate

The interest rate for a specific period of time, often related to credit cards or loans, which can be monthly, quarterly, etc.

APR

Annual Percentage Rate, a measure of the cost of credit, expressing the yearly interest rate.

Total Interest

The total amount paid or earned over the life of a financial product, such as a loan or an investment, in addition to the principal.

APR

Annual Percentage Rate, a measure used to calculate the cost of borrowing or the yield from an investment, taking into account interest rates, fees, and loan terms.

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