Which of the Following Statements About the Costs of Elder

question 15

Multiple Choice

Which of the following statements about the costs of elder care is most accurate?

• A) It should be much less expensive for firms to provide elder care than for them to provide child care.
• B) The financial burdens of elder care on the children of aging parents are likely to become less serious in the future than they are today, because many senior citizens are now remaining employed into their 70s rather than retiring in their early 60s.
• C) Although elder care is expensive, the good news is that companies can receive a great deal of assistance from the federal government when they establish qualified elder care programs.
• D) The costs of elder care are likely to rise very rapidly in coming years as an increasing number of older and more experienced employees face the need to care for aging parents and other relatives.

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Definitions:

Arithmetic Operations

Fundamental arithmetic processes including adding, subtracting, multiplying, and dividing.

Compound Interest

Interest calculation on a loan or deposit where the interest earned also earns interest, leading to exponential growth over time.

Nearest Cent

Rounding a monetary amount to the closest cent, often used to simplify cash transactions.

Simple Interest

An interest calculation method where the interest charge is calculated only on the principal amount, without compounding.