Jackson has a loan that requires a $17,600 lump sum payment at the end of four years. The interest rate on the loan is 5%, compounded annually. How much did Jackson borrow today? (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from
the tables provided.)
A. $15,884
B. $14,480
C. $11,910
D. $14,080
E. $16,720
Answer: B
You might also like to view...
According to the EPA what is considered to be a safe distance from a pollution source?
a. 1 mile b. 800 yards c. 2and a half miles d. 5 miles
Which of the following statements about direct channel systems is FALSE?
A. The producer can be more aware of changes in customer attitudes. B. There is no reliance on independent intermediaries whose objectives may be different from the producer's objectives. C. Direct channels are more typical with business products than with consumer products. D. Suitable intermediaries are always available even when they're needed at the last minute.
Olaf is the creditor in a transaction with Phil. Once certain requirements are met, Olaf's rights will attach, which means that Olaf will have
A. an indivisible ownership right to Phil's property. B. an enforceable security interest in Phil's property. C. a notice affixed to Phil's property. D. the permission of a court to seize Phil's property.
If two bar charts made from the rows of a cross-classification table look the same, then the two nominal variables ____________________ (are/are not) related
Fill in the blank(s) with correct word