From 1999 to 2005,what Happened to the Median Net Worth

question 16

Multiple Choice

From 1999 to 2005,what happened to the median net worth of the lowest quintile?

• A) It dropped by 9.1 percent.
• B) It dropped by 3.6 percent.
• C) It increased by 2.5 percent.
• D) It increased by 7 percent.

---

Definitions:

Settlement

The process of concluding a transaction or dispute by all parties involved agreeing to terms, often involving the payment of funds.

Promissory Notes

Written promises to pay a specified sum of money to a named party on demand or at a determined future date.

Carrying Amount

The book value of assets and liabilities reported on the balance sheet, calculated as the original cost less any depreciation, amortization, or impairment costs.

Interest-Bearing

Referring to a financial instrument or account that generates interest income over time.