What Developments Underlie the Expansion of Worldwide Commerce

question 42

Multiple Choice

What developments underlie the expansion of worldwide commerce?

• A)standardization of scientific terms
• B)standardization of weights and measures
• C)standardization of computer codes
• D)All of these are correct.
• E)standardization of wordless instruction icons

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Definitions:

Borrowing Rate

The interest rate that a financial institution charges a borrower for the use of money.

Principal

The original sum of money borrowed in a loan, or the amount of the loan that has yet to be repaid, excluding interest.

Annual Payments

Regular payments made yearly, often referring to the interest or dividends paid by bonds or stocks.

Compounded Annually

This term refers to the process of calculating interest on both the initial principal and the accumulated interest from previous periods, with the compounding occurring once per year.