If Patty Shoemaker Estimates That Her $100 Weekly Grocery Bill

question 72

Multiple Choice

If Patty Shoemaker estimates that her $100 weekly grocery bill will increase at an annual inflation rate of 4%,what should her weekly grocery bill be in 3 years?

• A) $30.00
• B) $40.00
• C) $112.50
• D) $112.60
• E) $121.60

---

Definitions:

Negotiable Instrument

A document that ensures the payment of a specified sum of money, either upon request or at an established date, with the payer's name indicated on it.

Presentment Warranties

Guarantees made by the presenter of a negotiable instrument, such as a check, regarding the legitimacy and authority to transfer the instrument.

Liability

The state of being responsible for something, especially in terms of legal or financial obligations.

Unauthorized

Refers to actions taken without official permission or approval.