(Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $1 comma 000 today into an account earning an annual rate of return of 8 percent, in the third year how much interest would be earned? How much of the total is simple interest and how much results from compounding of interest?
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Factors like the unemployment rate, the stock market, global trade, economic policy, and the economic situation of other countries have no influence on the financial status of individuals. ( t or f)
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What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.
Answers: 1
(Related to Checkpoint 5.2) (Future value) (Simple and compound interest) If you deposit $1 comma 00...
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