Next Year's Value of a Certain Quantity Is 6% of Last

question 15

Multiple Choice

Next year's value of a certain quantity is 6% of last year's value. ​
Which of the following can you conclude?
​

• A) The quantity grows exponentially.
• B) The quantity grows linearly.
• C) The quantity decays exponentially.
• D) The quantity decays linearly.

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Definitions:

Unconditional Promise

An unconditional promise is a firm commitment or pledge made by one party to another, without any stipulations or conditions attached.

Check-clearing Process

The method through which banks collect and settle the amount of a check, transferring funds from one account to another.

Movability

The characteristic of an asset that allows it to be transferred or moved from one location to another.

Commission

A fee or percentage of a transaction value paid to an agent or company for facilitating a service, such as a sale or real estate transaction.