Theresa opens a 5-year CD for $1,000 that pays 2% interest compounded annually. What is the value of the CD at the end of the 5 years?
a. $1,104.08
b. $1,100.00
c. $1, 020.00
d. $1,220.10
a. $1,104.08
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You're traveling in Ireland and are thinking about buying a new digital camera
You've decided you'd be willing to pay $125 for a new camera, but cameras in Ireland are all priced in euros. If the exchange rate is 0.85 euros per dollar, what's the highest price in euros you'd be willing to pay for a camera? A) 105 euros B) 106.25 euros C) 110.15 euros D) 147 euros
The idea behind the Phillips curve is that ________
A) tight labor markets lead to inflationary pressures B) when the unemployment rate is low, wages will increase C) when firms raise wages to attract new workers, prices will also increase D) all of the above E) none of the above
Along any downward sloping straight-line demand curve:
A) both the price elasticity and slope vary. B) the price elasticity varies, but the slope is constant. C) the slope varies, but the price elasticity is constant. D) both the price elasticity and slope are constant.
If demand were inelastic, then we should immediately:
a. cut the price. b. keep the price where it is. c. go to the Nobel Prize Committee to show we were the first to find an upward sloping demand curve. d. stop selling it since it is inelastic. e. raise the price.