What nominal annual return is required on an investment in order that an investor experiences a 12 percent gain in purchasing power? Assume inflation to be 4 percent.

Toyota's global complementation strategy

A) calls for plants to be devoted to the production of vehicles for only the local market. B) dictates that parts plants be built to supply all of the needs for each vehicle production plant worldwide. C) requires that a single parts plant, for example, for brakes, export brake components to all of its vehicle assembly plants worldwide. D) mandates that plants can produce vehicles for export to markets that remain strong when the local market weakens.

The assets less liabilities of a deceased individual are called a(n) ________

Fill in the blank(s) with the appropriate word(s).