Your grandmother just died and left you $47,500 in a trust fund that pays 6.5% interest. You must spend the money on your college education, and you must withdraw the money in 4 equal installments, beginning immediately. How much could you withdraw today and at the beginning of each of the next 3 years and end up with zero in the account?

A. $14,321.05
B. $10,415.31
C. $12,628.56
D. $9,894.54
E. $13,019.14


Answer: E

Business

You might also like to view...

Which of the following is NOT true about the two-step process by which mass communications affect personal attitudes?

A) The influence of mass media is mediated by opinion leaders, people whose opinions others seek or who carry their opinions to others. B) The influence of mass media on public opinion is not as direct, powerful, and automatic as marketers have supposed. C) The two-step flow supports the notion that consumption styles are primarily influenced by a trickle-up or trickle-down effect from mass media. D) People interact primarily within their own social groups and acquire ideas from opinion leaders in their groups. E) Two-step communication suggests that mass communicators should direct messages specifically to opinion leaders and let them carry the message to others.

Business

Overplanning the tactics for each negotiation stage in advance of the negotiation is

A. not a good use of preparation time. B. on the list of ten "best practices." C. is the best use of preparation time. D. is a necessary part of preparation.

Business

When it first opened stores across the United States, Bateman's, an office supply chain store, had the best product selection, the best service, and the lowest prices compared to other office supply chain stores

As a result, Bateman's captured a significant chunk of the market in the short run. Which of the following positioning strategies did Bateman's most likely use? A) more for the same B) more for less C) same for less D) less for much less E) more for more

Business

International reserve accounts are

A. prohibited by the Jamaica Accords. B. ready for any international negotiation. C. a way to control imports. D. a way for nations to back their liabilities, to ensure their liquidity.

Business