How Much Will You Need in 30 Years to Have

question 37

Multiple Choice

How much will you need in 30 years to have the same purchasing power that $150 has today,if inflation averages 4% per year?

• A) $486.51
• B) $180.00
• C) $120.00
• D) $169.08
• E) $330

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Definitions:

Nominal Scale

A scale of measurement used in research that involves categorizing variables into non-numerical categories without a defined order or hierarchy.

Ordinal

Pertaining to a category of data or scale type that expresses a sequential order without indicating the exact difference between the levels.

Trait Approach

A psychological perspective emphasizing that personality is composed of stable characteristics (traits) that influence an individual's thoughts, feelings, and behaviors.

Absolute Levels

Absolute levels are fixed reference points or values that remain constant across different contexts or comparisons, often used in measurements or evaluations.