St. Mary's Church has a balloon payment of $100,000 due on its mortgage in two years. If the interest rate is 8 percent, the present value of St. Mary's balloon mortgage payment is
A) $100,000.00.
B) $116,640.00.
C) $85, 733.88.
D) None of the above answers is correct.
C
Economics
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Sue consumes only sandwiches and soda and is at her best affordable point. The price of a sandwich falls. The substitution effect is that Sue substitutes ________ for ________. The income effect is that Sue ________
A) sandwiches; soda; buys less of both goods B) soda; sandwiches; buys more soda and fewer sandwiches C) sandwiches; soda; buys more of both goods D) soda; sandwiches; buys less soda and more sandwiches
Economics
Free markets produce allocatively efficient outcomes and have no flaws
a. True b. False Indicate whether the statement is true or false
Economics