Suppose your grandmother dies and leaves you $100,000, but it will be held (without interest accruing) for another two years. You are trying to figure out how much you can borrow now, so that when you get the money, it can be paid off with this $100,000. What concept would you use?
A. The Rule of 72
B. Internal Rate of Return
C. Future Value
D. Present Value
Answer: D
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In economics, the term "equity" means
A) economic benefits are distributed fairly. B) everyone has an equal standard of living. C) the hardest working individuals consume all they want. D) only elected officials have high standards of living.
Marginal revenue for an oligopolist is
A) identical to the demand for the firm's product. B) difficult to determine because the firm's demand curve is typically unknown. C) horizontal on a price-quantity diagram. D) downward sloping beneath the firm's demand curve.
Which of the following types of workers has decreased as a percentage of the U.S. labor force in recent decades?
a. skilled workers. b. unskilled workers. c. semiskilled workers. d. clerical workers.
SouthState Chemical Co produces pine oil cleaners in a process that produces emissions that discolor the paint on nearby houses, although the emissions have been declared nontoxic to humans
a. Is the price for the cleaner likely to be allocatively efficient? Use a graphic illustration in your answer. b. If your answer to (a) is no, what is an appropriate government policy to correct the problem?