Which of the Following Statements Is Not True

question 83

Multiple Choice

Which of the following statements is not true?

• A)Most people prefer to consume now than in the future.
• B)If you put $100 in a bank on 1/1/2010 and it earns compound interest at an annual rate of 10%,on 12/31/2011,you will have exactly $220.
• C)a dollar received today starts earning interest sooner than one received tomorrow.
• D)starting to save $2,000 a year at 10% at age 23 doubles the cash you would have if instead you started saving $2,000 a year at age 36.

---

Definitions:

Nonperformance

Failure to fulfill a contractual duty or obligation.

Late Charges

Additional fees charged to a borrower for failing to make payments on time.

Time Of Essence

A contractual clause declaring that specific timelines and deadlines are crucial to the contract, with any delay constituting a breach.

Election Day

A designated day on which voters cast ballots to elect public officials or to decide on other political or legal questions.