Mary Received an Unsolicited Selection of CDs in the Mail

question 34

Essay

Mary received an unsolicited selection of CDs in the mail with a letter informing her that she was now a member of the CD of the Month Club. It also said that if she didn't want these CDs, she could simply send them back. Otherwise, she would be billed $10 for each CD at the end of the month. She simply put them away, and did not respond. They continued to send her more CDs each month until she had received 100 of them over a period of 10 months. The club then sent her a letter demanding payment or they would take legal action. Explain her legal obligation in these circumstances.

Understand how to calculate the annual rate of inflation using the Consumer Price Index (CPI).

Apply financial formulas to calculate unknown interest rates in investment questions.

Analyze the performance of mutual funds based on historical data to calculate their compounded annual returns.

Understand and apply the concept of interest rate calculation.

---

Definitions:

Storytelling

The art or practice of narrating stories or events, often used as a means of entertainment, education, cultural preservation, or instilling moral values.

Ancestors

Predecessors in a family lineage or broadly, individuals from whom one is descended, significantly influencing cultural and biological inheritance.

Cultures

The shared values, traditions, norms, customs, arts, history, folklore, and institutions of a group of people.

Power

The ability or capacity to direct or influence the behavior of others or the course of events.