Taylor has saved $400 at the end of every month for the last 4 years with the intention of paying cash for a new car. She has earned a fixed annual rate of 4% over the 4 year period; interest is compounded monthly

How much can she pay for her new car at the end of the fourth year?
A) $20,784
B) $55,705
C) $17,716
D) $22,272


Answer: A

Business

You might also like to view...

Each of the following are important keys to building a successful premium program, except:

A) match the premium to the target market B) select premiums that are highly popular and current fads C) select premiums that reinforce the firm's product and image D) integrate the premium with other IMC tools

Business

Cisco had no presence in India before 2005, but it used a ________ approach and already opened a second headquarters in Bangalore to take advantage of opportunities in India and other locations such as Dubai

A) direct investment B) joint venture C) contract manufacturing agreement D) licensing agreement E) franchising agreement

Business

Advertising is

A) identical to public relations. B) a non-marketing tool in the promotional mix. C) used specifically to promote goods, but not services. D) a paid form of nonpersonal promotion by a sponsor. E) a form of direct-response marketing.

Business

Which of the following is the best closing for an adjustment message?

A) We apologize for any inconvenience this has caused. B) We are deeply sorry for this unfortunate event. C) We hope that this refund check proves our commitment to providing excellent customer service. D) If you have any questions, please do not hesitate to call.

Business