If the interest rate is 11%, $1500 received at the end of 12 years is worth how much today?
a. 500(1+.11)12
b. 500/(1 + .11)12
c. 500/(1 + 11)12.
d. 500
A
Economics
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Depository institutions must
A) keep a certain percentage of their deposits as reserves. B) use and pay for the services of the Federal Reserve System. C) turn over a percentage of their profits to the Federal Reserve System as payment for services provided by the Fed. D) set their interest rates according to schedules established by the Federal Reserve System.
Economics
What is the distinction between expected wealth and expected utility?
What will be an ideal response?
Economics