Roderick received a $100 savings bond for his graduation. The bond pays $100 at maturity, which is in five years. If the interest rate is 6%, the bond has a present value of $90.09
Indicate whether the statement is true or false
FALSE
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The labor demand curve represents the relationship between the quantity of labor demanded at:
A) different income tax rates. B) different values of average product of labor. C) different wage rates. D) different prices of the good that labor is used to produce.
In the United States in 2014, the highest marginal tax rate for individual income taxes was 39.6%
Indicate whether the statement is true or false
If total consumption spending is $1,000, the marginal propensity to consume is 0.6, and total output is $2,000, then the constant term is
A) $800. B) $1,000. C) $2,000. D) $1,200.
A set of indifference curves on a graph is called
A) a difference map. B) an indifference map. C) a budget map. D) a cluster.