What is the present value of a payment of $250 one year from today if the interest rate is 4 percent?
a. $240.38
b. $242.24
c. $244.40
d. None of the above are correct to the nearest cent.
a
You might also like to view...
Marginal utility is a measure
a. of total utility derived from consuming a given amount of a good b. of the total utility gained from consuming an extra unit of a good c. computed by dividing total utility by the amount of a good consumed d. determined by production conditions in a market e. of the cost associated with consuming one more unit of a good
If aggregate expenditure is less than GDP, how will the economy reach macroeconomic equilibrium?
a. Inventories will decline, and GDP and employment will decline. b. Inventories will rise, and GDP and employment will decline. c. Inventories will decline, and GDP and employment will rise. d. Inventories will rise, and GDP and employment will rise.