If the Price of Monthly Satellite TV Service Increases from $40

question 69

Multiple Choice

If the price of monthly satellite TV service increases from $40 to $50, the percentage change is

• A) 5 percent.
• B) 20 percent.
• C) 25 percent.
• D) 45 percent.

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Definitions:

Money

Money is a medium of exchange that nations have adopted to facilitate the sale, purchase, or trade of goods, services, and other transactions.

Future

A contract to buy or sell a specified asset at a predetermined price at a specified time in the future, used for hedging or speculation.

Equal Amounts

This term typically refers to financial transactions or mathematical problems where a series of payments or values are the same in each period.

Annuity Due

An annuity due is a type of annuity payment where payments are made at the beginning of each period, rather than at the end, as in an ordinary annuity.