A formalwear shop will earn a net income of $1,500 per year on a tuxedo. A tuxedo is good for two years, after which it will be worn out and worthless. If the interest rate is 10 percent (0.10) per year, what is the present value of a new tuxedo to the shop? (Assume that each year's income is received at the end of the year.)
a. $148.76
b. $2,955.30
c. $2,955.59
d. $2.603.31
e. $3,000.00
D
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Which of the following Latin American countries had by far the worst growth rate between 1960 and 2011?
A) Brazil B) Columbia C) Mexico D) Venezuela
Who would the BLS count as unemployed?
A) Anybody over 16 who doesn't have a full-time job B) Anybody over 16 who doesn't even work odd jobs C) Anybody under 65 who doesn't have a full time job D) Anybody, regardless of age, who is seeking work E) None of the above.
Refer to Figure 9-4. Suppose the government allows imports of leather footwear into the United States. The market price falls to $24. What area represents consumer surplus?
A) V + W + X + Y B) R + S C) R + S + T + U D) R + S + V
In the aggregate expenditures model, if aggregate expenditures (AE) equal $6 trillion and GDP equals $7 trillion, then:
a. inventory depletion equals ?$1 trillion. b. inventory accumulation equals $1 trillion. c. investment equals $1 trillion. d. investment equals ?$1 trillion.