Cisco is considering opening a financial institution that accepts savings deposits from only its employees and makes loans to only its employees. The best description of this financial institution is that it is a
A) credit union.
B) savings and loan association.
C) federal government chartered credit bank.
D) commercial bank.
E) savings bank.
A
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Why are elected representatives far more likely to be informed about the issues on which they vote, compared to the typical citizen-voter?
A) A politician loves politics; citizens hate it. B) A politician is more patriotic than citizens. C) A politician is rationally ignorant; citizens are just plain ignorant. D) A politician's vote has a far greater probability of affecting the outcome, compared to a citizen's vote.
Taking a course in computer repair will increase an individual's yearly income by $10,000 per year, starting the year after the course is completed. After three years, the skills learned will be obsolete. What is the present value of taking the course if the interest rate is 8 percent (0.08) per year?
a. $1,248.29 b. $10,356.65 c. $25,770.97 d. $30,000.00 e. none of the above