Kapoor, J. R., Dlabay, L. R., Hughes, R. J., & Hart,

M. M. (2015). Personal finance (11th ed.). New

York, NY: McGraw-Hill Education .

word count 150, APA, Reference and good English and grammar, correct word count and no cover sheet, just answer question.. Must use book for references. Select only 1 question to address

select ONE of the following prompts to address:

(1) Describe the process of compounding and the meaning of compound interest.

(2) Briefly describe how inflation or purchasing power impacts stated or nominal interest rates.

(3) What is discounting? Give an illustration.

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