If the Interest Rate Is 10 Percent Per Year, and You

question 397

Multiple Choice

If the interest rate is 10 percent per year, and you have $100,000 now, which of the following is closest to what your $100,000 will be worth in three years?

• A) $155,000
• B) $115,000
• C) $120,000
• D) $133,000

Understand the economic and ethical arguments surrounding the rent of land.

Discern the effect of external regulations on price mechanisms.

Explain the influence of historical and philosophical perspectives on economic concepts like usury.

Understand the principles of interest rates and the effect of usury laws on the economy.

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