Identify and State the Historical Significance of the Following

question 54

Short Answer

Identify and state the historical significance of the following:
-Booker T. Washington

Understand the difference between express and implied warranties in sales contracts.

Identify the conditions under which a breach of warranty occurs.

Comprehend the rules for construction when express and implied warranties are consistent.

Recognize the Magnuson-Moss Warranty Act requirements for full warranties.

---

Definitions:

Annually Compounded

Refers to the process of calculating and adding interest to a principal sum once per year.

Maturity Values

The amount payable to the holder of a financial instrument at its maturity date, often the principal plus interest.

Investment

An asset or item acquired with the goal of generating income or appreciation.

Compounded Monthly

Describes the method of computing interest by adding the interest from past periods to the original principal amount and then doing the calculations monthly.