Assume you are to receive a 10-year annuity with annual payments of $1000. The first payment
will be received at the end of Year 1, and the last payment will be received at the end of Year 10.
You will invest each payment in an account that pays 9 percent compounded annually. Although
the annuity payments stop at the end of year 10, you will not withdraw any money from the
account until 25 years from today, and the account will continue to earn 9% for the entire 25-year
period. What will be the value in your account at the end of Year 25 (rounded to the nearest
dollar)?
A) $48,359 B) $55,340 C) $35,967 D) $48,000
B
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What will be an ideal response?
Edwin Ghiselli identified ______ as the most important trait for effective leadership.
a. decisiveness b. supervisory ability c. initiative d. intelligence
The bankruptcy of a principal is not a valid reason to terminate an agency
Indicate whether the statement is true or false
Older Home Form HO-8 allows owners of older homes to purchase homeowners' insurance at a reasonable price because
A) the cost of the policy is subsidized by the federal government. B) the federal government directly reimburses homeowners for 10 % of their losses. C) reimbursement for structural damage is set at actual cash value. D) reimbursement for structural damage is set at replacement cost.