If a Consumer Could Pay $100 for a New Pair

question 9

Multiple Choice

If a consumer could pay $100 for a new pair of jeans or $100 toward asteroid deflection, what would that consumer likely choose?
I. purchase the jeans
II. purchase asteroid deflection
III. purchase both the jeans and asteroid deflection

• A) I only
• B) II only
• C) III only
• D) I and II only

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Definitions:

Nearest 0.01%

Indicates rounding figures to the closest one hundredth of a percent.

Equivalent Interest Rate

A rate that converts interest rates of various compounding periods into an annual rate for comparison purposes.

Nearest 0.01%

Rounding a percentage to the closest one-hundredth of a percent.

Nearest 0.01%

Rounding a number or percentage to the closest hundredth of a percent for precision.