Homer has been saving to buy a new car in five years and expects that the car of his dreams will cost $35,000
If the interest rate is 8 percent per year, how much money should Homer have in his bank account today in order to have enough money to buy the car in 5 years? A) $1,852.28
B) $22,055.94
C) $23,820.41
D) $25,726.04
C
You might also like to view...
Sharon consumes 10 chocolates when the price of one chocolate is $2. If her arc elasticity of demand for chocolates is -1, she consumes ________ chocolates when the price increases to $4
A) 5 B) 6 C) 8 D) 9
Since 1930, interest payments on past federal government borrowings were the highest in the 1980s and 1990s
a. True b. False Indicate whether the statement is true or false
Corporate profits distributed as dividends are
a. tax free. b. taxed once. c. taxed twice. d. taxed three times.
If a single-price monopolist sets price where the price elasticity of demand exactly equals 1, its
A) total profits are at a maximum. B) total revenue is at its maximum. C) total revenue is rising, although marginal revenue is falling. D) total revenue is falling. E) marginal revenue is always positive.