If You Purchase an Automobile for $20,000 in 2004 and Inflation

question 47

Multiple Choice

If you purchase an automobile for $20,000 in 2004 and inflation is 4 percent,how much would a similar automobile sell for four years from then? To solve this problem you would use the formula for the

• A)bank discount.
• B)internal rate of return.
• C)present value of a lump sum.
• D)future value of a lump sum.

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Definitions:

Dominant Type

signifies the most prevalent or influential species, form, or kind within a particular environment or context.

Cenozoic

The current geological era, beginning 66 million years ago and characterized by the dominance of mammals, birds, and flowering plants.

Mesozoic

An era of geological time from about 252 to 66 million years ago, known for the dominance of dinosaurs and the development of mammals and flowering plants.

Dominant Creatures

Referring to the species that exert the most influence over their environment or ecosystem, often due to their population size, biomass, or ecological role.