A Deposit Placed in an Interest-Earning Account Earning 8% a Year

question 11

Multiple Choice

A deposit placed in an interest-earning account earning 8% a year will double in value in ___ years.

• A) 6
• B) 8
• C) 9
• D) 72
• E) It will never double in value

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Definitions:

Protection

In economics, referring to measures like tariffs and quotas that a country uses to shield its domestic industries from foreign competition.

Sentiment

Refers to the general feeling or opinion of individuals or the public about a particular topic, which can influence economic decisions and market trends.

Balance of Trade

The difference between the value of our imports and our exports.

Trade Problem

Issues or challenges that arise in the process of exchange of goods, services, or both between countries.