A co-payment and coinsurance are the same thing.

Economic growth is defined as

A) an increase in the nation's population. B) a sustained expansion of production possibilities. C) an increase in the wage rate. D) a decrease in the rate of inflation. E) an increase in employment.

If an asset has a present value of $50 and appreciates at an interest rate of 4%, what is the asset's future value in 47 compounding periods?

A) Approximately $400 B) Approximately $316 C) Approximately $137 D) Approximately $1143