Which of the following has the highest future value?
a. $100 saved for 2 years at 10 percent interest
b. $110 saved for 2 years at 9 percent interest
c. $120 saved for 2 years at 8 percent interest
d. $130 saved for 2 years at 7 percent interest
d
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Consider the market for heart transplants. The demand for a heart transplant is perfectly inelastic and the supply curve is upward sloping
If a $1,000 tax per transplant tax is imposed on buyers (the recipients), how will the tax be divided between the buyer and seller? A) The sellers will pay the entire tax. B) The buyers will pay the entire tax. C) The tax will be evenly divided between the sellers and buyers. D) More information is needed to determine how the tax is split.
Federal Reserve notes are _____
a. checks b. commodity money c. coins d. backed by gold e. fiat money
In the long run, the quantity of capital available to a firm is fixed
a. True b. False Indicate whether the statement is true or false
A country currently is using all its land to produce wheat and grapes. However, the land most suited to growing grapes is being used to produce wheat, and the land most suited to growing wheat is being used to produce grapes. This is an example of
a. increasing opportunity costs b. involuntary unemployment c. productive inefficiency d. central planning e. communal ownership