The Advisory Commission on Intergovernmental Relations Noted That State Legislatures

question 5

Multiple Choice

The Advisory Commission on Intergovernmental Relations noted that state legislatures

• A)have become less functional in recent years.
• B)were less accountable to the public than ever before.
• C)were equipped with greater information handling capacity than their predecessors.
• D)were less representative than ever before.
• E)were less efficient than ever before.

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Definitions:

Ordinary Annuity

A series of equal payments made at regular intervals, with interest compounded at the end of each period.

Nominal Interest

The stated or advertised rate of interest on a loan or investment, not accounting for inflation or compounding effects.

Effective Rate

The actual interest rate on an investment or loan, taking into account the effect of compounding over a given period.

Compounding Interval

the frequency at which interest is added to the principal balance of a financial instrument, affecting how much interest accumulates over time.