For an Amendment to the U

question 7

Multiple Choice

For an amendment to the U.S. Constitution to be ratified, the percentage of state legislatures or special conventions that must agree is:

• A) one-fourth.
• B) one-half.
• C) two-thirds.
• D) three-fourths.

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Definitions:

Sinking Fund

A savings fund accumulated over time for the purpose of paying off debt or replacing a large expense in the future.

Yield to Maturity

The total return anticipated on a bond if the bond is held until its maturity date.

Coupon Rate

The interest rate stated on a bond or fixed-income security, representing the percentage of its face value paid to the holder annually.

Bond Prices

The market value of bonds, which can fluctuate based on changes in interest rates, credit quality of the issuer, and market demand.