A savings account earns 4% annual simple interest. The principal is $1100. What is the balance after 5 years?
1 answer:
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For this case what you should do is observe the classic graph of supply and demand.
In this graph, we are going to visualize only the demand curve.
Two facts are met for the claim:
1) If the price is high, the quantity demanded decreases.
2) If the price is low, the quantity demanded increases.
Answer:
The lower prices imply an increase in the quantity demanded.
