You want to have $100,000 in five years. If the interest rate is 8 percent, about how much do you need to have today?
a. $66,225.25
b. $67,556.42
c. $68,058.32
d. $71,428.57
c
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Spending on programs that ________, such as Social Security and Medicare, is classified as entitlement and mandatory spending
A) is authorized only in times of budget deficits B) is authorized only in times of budget surpluses C) is authorized by Congress on an annual basis D) has been authorized by prior law
Suppose Katie, Kendra, and Kristen each purchase a particular type of cell phone at a price of $80 . Katie's willingness to pay was $100, Kendra's willingness to pay was $95, and Kristen's willingness to pay was $80 . Which of the following statements is correct?
a. For the three individuals together, consumer surplus amounts to $35. b. Having bought the cell phone, Kristen is better off than she would have been had she not bought it. c. Had the price of the cell phone been $95 rather than $80, Katie and Kendra definitely would have been buyers and Kristen definitely would not have been a buyer. d. The fact that all three individuals paid $80 for the same type of cell phone indicates that each one placed the same value on that cell phone.
Define the following terms and explain their significance to the study of macroeconomics. a. Fiscal policy b. Transfer payments c. Effect of income taxes on the multiplier d. Supply-side tax cuts
What will be an ideal response?
The marginal cost curve always intersects the average total cost curve at the minimum of average total cost.
Answer the following statement true (T) or false (F)