Which of the Following Statements Is Most Accurate

question 54

Multiple Choice

Which of the following statements is most accurate?

• A)Canada is slightly smaller in land area than the United States, and its population is only about 10% that of the United States.
• B)Canada is slightly smaller in land area than the United States, and its population is only about 20% that of the United States.
• C)Canada is slightly larger in land area than the United States, but its population is only about 20% that of the United States.
• D)Canada is slightly larger in land area than the United States, but its population is only about 11% that of the United States.
• E)The United States and Canada have almost exactly the same land area, but the population of the United States is double that of Canada.

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Definitions:

Compounding

The financial process where an investment earns interest not only on the principal amount but also on the accumulated interest over time.

Compound Interest

This involves calculating interest on the original sum of money plus the interest that has gathered over preceding intervals, whether for a deposit or a loan.

Time Value

The viewpoint that money in one's possession now is considered more valuable than the same amount in the future, thanks to its ability to generate profits.

Money

A medium of exchange, a unit of account, and a store of value used to facilitate transactions and measure the value of goods and services.