A perpetuity has a PV of $20,000. If the interest rate is 6%, how much will the perpetuity pay every year?
A) $600
B) $960
C) $1200
D) $720
Answer: C
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Indicate whether the statement is true or false
Which of the following is true for an auction with reserve?
A) The seller retains the right to refuse the highest bidder. B) Invitations to make an offer are not allowed. C) Goods cannot be withdrawn from sale after the offer has been made. D) A bid once made cannot be withdrawn and is legally binding.
On an instrument, a mere reference to another writing—“As per contract”— does not render the instrument nonnegotiable.
Answer the following statement true (T) or false (F)
In the group of words although our company profits increased, the word although is a ____
A) conjunctive adverb B) coordinating conjunction C) subordinating conjunction