You have been accepted to study international economy at the European Central Bank (ECB) in

Frankfurt. You will need $10,500 every 6 months (beginning today) for the next three years to cover
tuition and living expenses.

Mom and Dad have agreed to pay for your education, and want to
make one deposit today in a bank account earning 6% interest, compounded semiannually. How
much must they deposit now so that you can withdraw $10,500 at the beginning of each semester
over the next 3 years?
A) $55,797 B) $54,187 C) $58,587 D) $56,639


C

Business

You might also like to view...

A business plan is a comprehensive statement of how a company will achieve its objectives

Indicate whether the statement is true or false

Business

Fence Patrol has developed an entirely new mounting system for chain link fences. Although it is a local company, through the acquisition of a distributor Fence Patrol now has the ability to market its products nationwide

Which of the following is a promotion question that managers at Fence Patrol should address as they create a marketing mix for new international markets? A) What is the average local price for chain link fences? B) How does the target audience feel about the quality of chain link fences currently on the market? C) What message about Fence Patrol's chain link fences is most likely to connect with the target? D) Will wholesalers or retailers be the primary sources for Fence Patrol products in new markets? E) What will the target in each country be willing to pay for Fence Patrol products?

Business

The balance in the capital account on the worksheet will equal the amount presented in the balance sheet

Indicate whether the statement is true or false

Business

Which of the following would be considered to be a breach of human rights legislation?

A) Paul, a Vice President of a company consistently flirts with Lorraine, another Vice President. B) Jerry, the President of a company, consistently makes sexually suggestive remarks to Janice, a secretary employed to his main supplier C) Michael a supervisor, consistently makes sexually suggestive remarks to Karen a junior employee on his shift. D) Susan, a supervisor in a factory, makes sexually suggestive remarks to Billy another supervisor E) All of the above

Business