You Need $32,000 at the End of 6 Years

question 94

Multiple Choice

You need $32,000 at the end of 6 years.If you can earn 0.625% per month,how much would you need to invest today to meet your objective?

• A)$17,600
• B)$18,319
• C)$20,735
• D)$20,433

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Definitions:

Rent Control

Government policies or regulations that limit the amount landlords can charge for renting out a property, often to make housing more affordable.

Price Floor

A government-imposed minimum price that can be charged for a good or service, usually set above the market equilibrium price to aid producers.

Surplus

In economic terms, a situation where the quantity of a good or service available exceeds the quantity demanded at a specific price.

Binding Price Floor

A government or regulatory-imposed price control set above the equilibrium price, which prevents the market price from falling below that level.