Jake Loaned Elwood $5,000 for One Year at a Nominal

question 2

Multiple Choice

Jake loaned Elwood $5,000 for one year at a nominal interest rate of 10 percent.After Elwood repaid the loan in full,Jake complained that he could buy 4 percent fewer goods with the money Elwood gave him than he could before he loaned Elwood the $5,000.From this,we can conclude that the rate of inflation during the year was

• A)-4 percent.
• B)4 percent.
• C)6 percent.
• D)14 percent.

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Definitions:

Heating Element

A component in devices designed to produce heat through electrical resistance for various applications like cooking or heating spaces.

Print Head Assembly

A component of a printer where ink cartridges are installed and which sprays the ink onto paper to create a printed image or text.

Duplexer

A device that allows bi-directional (duplex) communication over a single path or frequency.

Printing On Two Sides

Also known as duplex printing, it refers to the capability of a printer to print on both sides of a sheet of paper automatically, reducing paper usage and promoting environmental sustainability.