Add the Fractions Below, and Express the Answer in Its $\frac { 8 } { 52 } + \frac { 12 } { 52 }$

question 56

Short Answer

Add the fractions below, and express the answer in its lowest terms. $\frac { 8 } { 52 } + \frac { 12 } { 52 }$

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Definitions:

Quantity Demanded

The amount of a good or service consumers are willing and able to buy at a specific price level, ceteris paribus.

Equilibrium Price

The price level where the supply of goods meets the demand for those goods.

Loanable Funds

The total funds available in the financial markets for borrowing, which come from savings and are used for investment.

Borrowed

Refers to funds or resources obtained temporarily from another party, typically with the obligation of returning or repaying the amount with interest.