If Inflation Causes the Cost of Automobiles to Increase by 3.5

question 73

Multiple Choice

If inflation causes the cost of automobiles to increase by 3.5% each year, what should a car cost today if it cost $21,000 4 years ago? Round your answer to the nearest cent. ​

• A)$25,525.63
• B)$24,923.28
• C)$24,462.21
• D)$24,097.98
• E)$23,803.02

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Definitions:

Paralyzing Fear

An intense, overwhelming fear that prohibits an individual from taking action or making decisions.

Maladaptive Behaviors

Actions or tendencies that are counterproductive to oneself or others, often diminishing quality of life or interfering with effective functioning.

Anxiety Disorder

A mental health disorder characterized by feelings of worry, anxiety, or fear that are strong enough to interfere with one's daily activities.

Social Anxiety Disorder

A chronic mental health condition characterized by intense anxiety or fear of being judged, negatively evaluated, or rejected in a social or performance situation.