Given an annual interest rate of 4 percent, what is the present value of receiving $5,000 in 2 years?
A) $4,585.45
B) $4,622.78
C) $4,535.25
D) $4,619.23
B) $4,622.78
You might also like to view...
In order to raise the rate of economic growth we would need to
A. increase the level of capital. B. reduce the level of labor. C. spend more on military goods. D. spend more on consumer goods.
When the fishing economy mobilized for war preparedness by drafting young men and women, many draftees came from fishing jobs. Picture the market for fish, before and after the mobilization. What happens to the price and quantity of fish on the market after the draft went into effect?
a. Both fish prices and quantity increased. b. Fish prices increased and quantity remained unchanged. c. The draft had no effect on the fish market. d. Fish prices decreased and quantity increased. e. Fish prices increased and the quantity decreased.
The official U.S. poverty line for a family is calculated by taking 3 times the annual cost of:
a. utilities and transportation. b. basic medical care. c. a minimal diet. d. public housing.
A shortage occurs at any price above the equilibrium price.
a. true b. false