On May 25, 1980 three pals graduated from high school, pooled together $3,000 and put the money into an account promising to pay 8% for the next 30 years. On May 25, 2010 they withdrew all the money from the account. To the nearest dollar, how much did they withdraw?
a. $25,962
b. $27,297
c. $30,188
d. None of the above are correct to the nearest dollar.
c
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Refer to Table 2-12. If the two countries specialize and trade, who should export sailboats?
A) There is no basis for trade between the two countries. B) Guatemala C) They should both be importing sailboats. D) Honduras
Real income is the purchasing power of nominal (money) income
a. True b. False Indicate whether the statement is true or false
As interest rates decrease, the:
A. Cost of current relative to future consumption increases B. Cost of current relative to future consumption decreases C. Cost of current consumption relative to future consumption remains the same D. Desire of many individuals to save increases
What is opportunistic disinflation and what provides the opportunity? Explain how the process works.
What will be an ideal response?