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Which statement(s) is TRUE?
I. Rent controls prevent apartments from being allocated to people who value them the most.
II. With a system of rent controls, landlords are more likely to make needed repairs to their properties as a way of attracting renters.
III. Although inefficient, rent controls are the best way to help the poor afford housing.
Annual Interest
The amount of interest charged or earned over a year on borrowed capital or investment principal.
Present Value
The contemporary financial worth of a future sum or ongoing cash flows, evaluated at a designated rate of return.
Compounded Annually
A method of calculating interest where the interest earned each year is added to the principal, and the interest for the next year is calculated on the total amount.
Unamortized Discount
The portion of a bond discount that has not yet been charged to expense because the bond has not reached its maturity.
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