You deposit $3,000 into an N–year certificate of deposit that pays 4.5 percent annual interest, and at the end of the N years you have $4,082.59 . What is the number of years, N?
a. 4
b. 5
c. 6
d. 7
d
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Growth accounting refers to the method used to
A) identify the contribution of economic growth from increased capital, labor, and technological progress. B) measure growth in the capital stock. C) measure the growth in the labor force. D) identify the costs of promises made by the government today but paid for by future generations.
An understanding of the principles of public sector economics can help us create _____
a. innovative public policies b. a more effective government c. a protective government that better shields its citizens from risk d. new spending programs
Which of the following countries has not experienced hyperinflation in the twentieth century?
A. Germany B. Russia C. Argentina D. United States
Which of the following did Thomas Malthus believe would make sustained economic growth and the achievement of high income levels impossible?
a. rapid growth of government spending b. the expansion of political democracy c. the expansion of communism to the developed world d. growth of population