You Want to Buy a New Car in Five Years

question 12

Multiple Choice

You want to buy a new car in five years. You want to have saved $25,000 by then. You can invest $4,000 at the end of each of the next five years at an interest rate of 6% compounded annually. Will you have enough money at the end of the fifth year?

• A) No. You are short $2,452.
• B) Yes. You have $1,532 more than you need.
• C) No. You are short $1,532.
• D) Yes. You have $2,452 more than you need.
• E) None of the other answers are correct.

Understand the importance and application of the Necessary and Proper clause and the Spending power.

Grasp the principles of commerce regulation and the impact of interstate commerce on legislation.

Explain the process and significance of amending the Constitution.

Recognize the specific powers granted to Congress and their limitations.

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Definitions:

Statistical Quality Control

A method of using statistical methods to monitor and control a process to ensure that it operates at its full potential to produce conforming product.

Control Limits

The boundaries in control charts that distinguish between normal and abnormal variations of the process being monitored.

Quality Control Measures

Quality control measures are the techniques and activities used to ensure that the quality of a product or service meets certain standards and specifications.

Special Causes

Unusual factors or events that impact the process and result in variations not accounted for by the existing process model.