Peter deposits $500 at the END of every month for 3 years in a savings account. The account pays 12% interest, compounded monthly. Peter calculates that the future value of the ordinary annuity is $21,538.44. What would be the future value if deposits were made at the BEGINNING of each period rather than the END? (Calculate the future value by formula)
A) $21,753.83
B) $25,734.44
C) $22,273.44
D) $22,349.85
A
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a. Payments made at the beginning of equal periods of time b. Both present and future value can be calculated c. Compound interest assumed d. Series of equal payments
Which school of thought advocates for employers to be able to use pure economic principles in their employment decisions?
a. Neoclassical economists b. Classical economists c. Social economists d. Traditional economists
Which of the following is widely used for large/complex projects with far-flung participants?
a. Fax-based communication systems b. Project management software c. Open-source project management tools d. Projects do not typically have participants that are located far from each other
A remittance advice:
A. enhances the safe deposit of cash in the bank. B. reduces the risk of cash-handling errors. C. ensures cash sales are properly recorded in the accounting records. D. explains the purpose of a customer's payment.