If You Deposit $10,000 in a Savings Account at an Annual

question 57

Multiple Choice

If you deposit $10,000 in a savings account at an annual interest rate of 6%,how much will you have in the account at the end of three years?

• A) $8,396
• B) $10,600
• C) $11,800
• D) $11,910

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Definitions:

Demand Decreases

A decrease in the quantity of a product or service that consumers are willing and able to purchase at given prices.

Tax on Buyers

A fiscal charge imposed directly on purchasers, which shifts the demand curve downward, reflecting a decrease in the net price received by sellers.

Tax Burden

The measurement of taxes that a person or business must pay, often expressed as a percentage of income or profit.

Buyer Pays

Refers to the economic principle that the buyer is responsible for paying the price of a good or service, including any taxes or fees associated with the purchase.