Most, If Not All, of the New State Constitutionsenacted in the 1780s

question 67

Multiple Choice

Most, if not all, of the new state constitutionsenacted in the 1780s

• A) were written documents intended to represent a fundamental law, superior to ordinary statutory legislation.
• B) lacked a specific bill of rights.
• C) required the annual election of state legislators.
• D) granted the state legislatures more power than governors.
• E) created weak executive and judicial branches.

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Definitions:

Present Value Equation

A mathematical formula used to determine the current value of a future amount of money or stream of cash flows given a specific rate of return.

FV

Future Value, the value of an asset or cash at a specified date in the future that is equivalent in value to a specified sum today.

Compound Interest

Interest calculated on the initial principal of a deposit or loan, as well as on the accumulated interest from previous periods.

Interest on Interest

The interest earned on the reinvestment of previous interest payments, commonly associated with compounding interest.