Myrna borrows $500 at an annually compounded interest rate of 8 percent that she will repay at the end of 10 years. How much will be required to pay off the loan at the end of 10 years?
A. $900.
B. $962.85.
C. $1,079.46.
D. $1,123.21.
C. $1,079.46.
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The fastest growing category of government expenditure is
A) transfer payments. B) defense spending. C) grants to state and local governments. D) government purchases.
Which of the following is true?
A. A nation cannot have a comparative advantage in the production of every good. B. A nation cannot have an absolute advantage in the production of every good. C. A nation can have a comparative advantage in the production of every good, but not an absolute advantage. D. A nation can have a comparative advantage in the production of a good only if it also has an absolute advantage. E. A nation cannot have an absolute advantage in the production of a good unless it also has a comparative advantage.
Tommy's Teddy Bears incurs $300,000 per year in explicit costs and $50,000 in implicit costs. The shop earns $600,000 in revenues and has $1.1 million in net worth. Based on this information, what is accounting profit for Tommy's Teddy Bears?
A) $250,000 B) $300,000 C) $500,000 D) $1.35 million
Which of the following is NOT an example of price discrimination?
A. Colleges give some students more financial aid than they give other students B. College bookstore gives a price discount to faculty C. Airlines charge more for people that travel during weekends D. Gasoline stations charge more for gasoline with higher octane and additional additives