If a Student Borrowed $5, 000 at a Fixed Rate

question 95

True/False

If a student borrowed $5, 000 at a fixed rate of 8.9 percent to pay for this year's college expenses and the annual inflation rate turns out to be 11 percent, then the student's purchasing power for the year has increased.

---

Definitions:

Psychology Professor

An academic professional who teaches psychology courses at a college or university and often engages in research within the field.

Nonverbal Information

Information that is communicated without the use of words, often through body language, gestures, facial expressions, and tone of voice.

Facial Expressions

Observable movements of the facial muscles that convey an individual's emotional state or intentions to others.

Hand Gestures

Movements of the hands and arms used to express ideas or convey information without speech.