If the Annual Interest Rate Is 4 Percent,a Consumer Who

question 154

Multiple Choice

If the annual interest rate is 4 percent,a consumer who spends $100 today _____

• A)will have to return $104 to a bank.
• B)will have to pay $104 next year to get the same set of goods.
• C)will receive $96 from a bank next year.
• D)will have to pay $96 next year to get the same set of goods.
• E)is giving up the ability to spend $104 on goods next year.

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Definitions:

Modesty

A behavior or attitude that shows a moderate or low view of one's importance, often reflecting humility or a lack of boastfulness.

Low in Power

Referring to individuals or groups who hold minimal control or authority within a social hierarchy or organizational context.

Laugh

A vocal expression of amusement, joy, or derision, characterized by rhythmic, often audible contractions of the diaphragm and other parts of the respiratory system.

Strategy

A comprehensive plan or set of guidelines designed to achieve a particular goal or overcome a challenge, often considering long-term objectives and resources.