Exhibit 7-2 Consumer Price Index as Shown in Exhibit

question 120

Multiple Choice

Exhibit 7-2 Consumer Price Index As shown in Exhibit 7-2, the rate of inflation for Year 3 is:

• A)5 percent.
• B)10 percent.
• C)20 percent.
• D)25 percent.

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Definitions:

Remaining Principal

The amount of the original loan or mortgage that has not yet been repaid.

Wal-Mart Stores

A multinational retail corporation operating a chain of hypermarkets, discount department stores, and grocery stores, headquartered in Bentonville, Arkansas.

Taxable Value

The assessed value of an asset or property that is used to determine the amount of tax owed.