In Contrast to the Seventeenth Century, by 1775, Colonial Americans

question 101

Multiple Choice

In contrast to the seventeenth century, by 1775, colonial Americans  

• A) had become more stratified into social classes.
• B) had all but eliminated poverty.
• C) found that it was easier for ordinary people to acquire land.
• D) had nearly lost their fear of slave rebellion.
• E) had few people who owned small farms.

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Definitions:

Amortization Schedule

An Amortization Schedule is a table detailing each periodic payment on an amortizing loan, showing amounts paid to principal and interest.

Interest on Unpaid Balance

Interest charged on the portion of a loan or credit card balance that has not been paid off within the agreed period.

Equal Monthly Payments

Regular payments of the same amount made over a set period to repay a loan or mortgage.

Compounded Monthly

Compounded Monthly implies that interest is added to the principal sum of a deposit or loan each month and interest in the following month is then earned on the new principal sum.